In a year where the unexpected became the norm, one of the few constants was the ECB’s presence in the eurozone sovereign bond market — you can see the monthly pace of Mario Draghi’s purchases. Elsewhere, the shock election of Donald Trump as US president and the Brexit vote took its toll on government bond yields and sterling’s level against the dollar.
In an age of abundant information and opinion, where much of it is wrong, smart investment bankers can still be valuable to clients by embracing the complexity