2015 was an exceptional year in the European sovereign debt markets where the European Central Bank, ECB, expanded its monetary policy measures by purchasing government bonds. This contributed to unusually low interest rates in the euro area, which also influenced Danish government yields. In Denmark, government debt management policy was highly affected by the pressure against Denmark’s fixed exchange rate policy at the beginning of the year. In that connection it was decided to suspend sales of government bonds. This helped to reduce the inflow of foreign exchange by making it less attractive to invest in Danish bonds.[...]