Invesco Perpetual's Read sees value in Eurozone bonds as spreads widen

Widening spreads mean the European corporate bond market is now extraordinarily attractive, according...

Widening spreads mean the European corporate bond market is now extraordinarily attractive, according to Invesco Perpetual’s Paul Read. The group’s co-head of fixed income described how the region’s high yield market has become much more broad based as telecoms operators have lost their monopoly over it. This has led to positive developments, he said, although the markets have not been immune to the effects of the credit crunch. “While it is right, given the headwinds economic growth is facing, to be cautious about euro area growth prospects for 2008, one factor we consider will lend sup...