Spain’s bond rally shows no signs of abating, even after a report showing the government’s struggle to reorder public finances continues to threaten a recovery in the euro region’s fourth-largest economy.
Alberto Gallo, head of European macro credit research at Royal Bank of Scotland Group Plc in London, says emerging market dollar bonds are “very rich compared to where they should be.” Gallo talks with Bloomberg’s Tom Keene and Michael McKee on Bloomberg Radio’s "Bloomberg Surveillance."
UniCredit SpA may seek offers as soon as this month for a unit that manages non-performing loans, as Italy’s banks weigh options for moving bad loans off their books, people familiar with the talks said.
Returns on investment-grade corporate bonds this month outstripped those on high-yield debt for the first time since June in Europe as turmoil in emerging markets prompted investors to seek out safer assets.
Jamie Dimon was right. Speaking at a televised session during the World Economic Forum in Davos last year, the JPMorgan Chase & Co. chief executive officer predicted that the condemnation of bankers was far from over.