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Italy Is the Darling of the Bond World for 2021
Bloomberg 12/23/2020 James Hirai and Jill Ward
(Bloomberg) As European bond strategists draw up their top trades for 2021, one popular theme rises above the rest: load up on Italy’s long-dated debt.
Popular Searches
Commerzbank AG, JPMorgan Chase & Co., HSBC Holdings Plc and UBS Group AG are targeting a continued decline in Italy’s 10-year yield premium over bunds, while Deutsche Bank AG prefers positioning for a flatter bond curve relative to its German equivalent. Robeco Institutional Asset Management is opting for the country’s 50-year notes.
Italian bonds pay the euro area’s highest investment-grade yields, and their allure is burnished by the drying up of fixed-income returns across developed markets more than a quarter of the world’s debt now yields less than 0%. Even rates in other peripheral European nations such as Portugal and Spain have turned negative, with dwindling debt returns forci
Italy Is the Darling of the Bond World for 2021
Bloomberg 12/23/2020 James Hirai and Jill Ward
(Bloomberg) As European bond strategists draw up their top trades for 2021, one popular theme rises above the rest: load up on Italy’s long-dated debt.
Popular Searches
Commerzbank AG, JPMorgan Chase & Co., HSBC Holdings Plc and UBS Group AG are targeting a continued decline in Italy’s 10-year yield premium over bunds, while Deutsche Bank AG prefers positioning for a flatter bond curve relative to its German equivalent. Robeco Institutional Asset Management is opting for the country’s 50-year notes.
Italian bonds pay the euro area’s highest investment-grade yields, and their allure is burnished by the drying up of fixed-income returns across developed markets more than a quarter of the world’s debt now yields less than 0%. Even rates in other peripheral European nations such as Portugal and Spain have turned negative, with dwindling debt returns forci