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Is the outstanding performance of Irish debt this year reflective of an EU rescue success story...

Is the outstanding performance of Irish debt this year reflective of an EU rescue success story or the bullishness of one large investor? Michael Hasenstab's Templeton Global Bond Fund has emerged as the gorilla in the thinly traded market, a "major driver for Ireland's performance," says a rival fund manager. It's a hero play thus far, but who will buy if a quick sale is necessary?
Comments (2)
  • bbro
    , contributor
    Comments (9327) | Send Message
     
    These trades are generally not trades but investments besides there
    are ways of hedging the position...
    3 Sep 2012, 01:10 PM Reply Like
  • anonymous#12
    , contributor
    Comments (552) | Send Message
     
    Puerto Rico debt has rallied nicely too. Puerto Rico has a chronic labor market with low market participation, hugely underfunded pension, murders and crime increasing and the highest debt level to GDP of a territory of the US.

     

    The reason is that with such low rates persistent thru the US managers are pressured to buy high yield. Also PR debt is excluded from federal, and local taxes.

     

    I don't like Bernanke keeping rates for so long.
    3 Sep 2012, 02:01 PM Reply Like
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