Italy casts light on two speed senior market
CEVAHIR Halil-Ibrahim/kamasigns - Fotolia
The controversial liquidation of two Venetian banks at the weekend made one thing very clear for investors — resolution authorities have no appetite for bailing in senior bondholders. But the asset class is finally getting ready for its big makeover in Europe, and the level of risk involved in holding the new look instruments remains far from clear, writes Tyler Davies.
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