What have fundamentals got to do with peripheral yields?

18 Oct 2010

Although yields may appear to be making good progress, for now, it would be foolish to draw too many conclusions about what traders and investors think about the future of peripheral bond markets and the economies they fund.

The eurozone’s peripheral states have been falling over themselves to reassure bond buyers since the European sovereign crisis became the defining issue of the year in the spring and rightly so.

There can be no doubt that the most recent bout of announcements has coincided with yield tightening. In ...

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