The European Central Bank’s latest purchases of Italian and Spanish debt have been at last trimming these sovereigns’ bond yields from seriously elevated levels. However, Neil Williams, Chief Economist, Global Government and Inflation-Linked Bonds at Hermes Fund Managers, looks at whether the euro-zone can “…come out of the crisis stronger than it went in” as Germany’s Chancellor Merkel wishes? Possibly not.
Hermes Real Estate Investment Management Limited (HREIML), on behalf of the British Telecom Pension Scheme (BTPS), has announced that the Tottenham Hale Shopping Park, North London, is now fully-let with the addition of Everything Everywhere to the retail mix.
Despite being cautious on G5 growth, it’s difficult seeing value in bonds. Unless, of course tepid recovery rates are now relapsing into something more sinister, in which case, deflation-risk re-emerges and QE gets dusted off again. Neil Williams, Chief Economist, Global Government and Inflation-Linked Bonds at Hermes Fund Managers, discusses why any comparisons that liken now to the 2008-2009 crisis look premature.
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