2012: A year in global bonds

2012: A year in global bonds
  • Bob Jolly, Head of Global Macro
  • 30 Nov 2011

Bob Jolly, Head of Global Macro, looks ahead into 2012

• The eurozone has to either accept greater integration or agree to abandon the euro project.
• Structural reform is required, and a deeper integration of fiscal policy a necessity of success in the euro project.
• Considerable bad news is already priced into equity multiples and credit spreads.
• We continue to find bonds issued by strong companies with cash on their balance sheet and pricing power attractive.

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