Some 24 European banks have failed the European Banking Authority (EBA)'s stress tests.
Markets across Europe have rallied this morning following confirmation the European Central Bank (ECB) has started buying covered bonds.
'Weak high yield credits are getting weaker'
Patient bond investors have been rewarded in 2014, says Nick Gartside, international CIO for fixed income at J.P. Morgan Asset Management.
JPMAM strategist Stephanie Flanders has said she is 'sombre' about the prospects for Europe and other developed markets, in a reversal of the optimism she felt at the start of the year.