Peripheral Europe was key call for bonds in 2010

S&P Fund Services' end of year review shows most European fixed income managers remain wary of peripheral bonds going into 2011

Moves in European bond markets in 2008 and 2009 were all about corporate credit, particularly financials.  For 2010, our annual review of European fixed income funds found that positioning in peripheral bonds was one of the main topics of conversation among fixed income fund managers, with most continuing to be wary of the periphery in 2011. Arif Husain, who manages the S&P A-rated Alliance Bernstein European Income fund, a European multi-asset fund, told us in 2009 he preferred European emerging markets credits to the eurozone periphery; the fund had no Portugal, Ireland, Greece or Spai...