Periphery in control as long end chances grow

From being all but frozen out of the capital markets a little over two years ago, eurozone periphery sovereigns could soon be in the position to dictate terms and push investors on duration, said bankers this week, following Portugal’s return to the 15 year part of the curve for the first time since the collapse of Lehman Brothers and Spain’s longest ever print. New measures from the European Central Bank that sent yields tumbling could put the sovereigns in an even stronger position, although that might not extend to Greece, which is planning a seven year bond for later this year.