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FIGCovered Bonds

Pimco in Portugal as analysts tout opportunity

Portugal Flag 230x150

Pimco, after staying clear of Portuguese bank or sovereign debt for five years, was in Lisbon at the end of last week to investigate opportunities in the troubled country generated by the ongoing Banco Espirito Santo (BES) debacle. The meetings came as several sellside research analysts tipped Portuguese covered bonds as a good relative value opportunity versus periphery peers.

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