This report examines sovereign borrowing needs in OECD countries from 2007 to 2016. It first looks at the net and gross borrowing needs of OECD governments in the context of ongoing fiscal consolidation. It then considers recent trends in central government marketable debt in the OECD and general government debt ratios for selected OECD countries, as well as current interest rates and the possible medium to long-term effect of negative interest rates. The report examines the relationship between monetary policy and debt management decisions, the role of public institutions as investors in sovereign bonds and growing concerns about secondary market liquidity.