Europe

Invesco Perpetual's co-head of fixed income, Paul Read, has told investors now is the time to be bullish on bank debt in the UK, US and Europe, with valuations at three-year lows despite huge improvements in balance sheets.

The European Central Bank has held rates at 1.5% despite mounting pressure on policymakers to resolve the sovereign debt crisis.

Markets have broken their three-day rally this morning, forced down by concerns some countries will be forced to take larger writedowns on Greek bonds.

Martin Currie is planning to convert its European fund into an income mandate as co-manager Eric Woehrling departs the firm, Investment Week understands.

The Dow Jones has opened slightly down, following a day of volatile trading in Europe.

Jupiter European Special Situations manager slashed exposure to ‘one-way bet'

European officials are planning to speed up the recapitalisation of 16 major banks that nearly failed last summer's stress tests as the economic crisis gripping the region worsens.

ON BONDS

Tim Mycock, head of real estate at Future Capital Partners, explores the investment potential of Montenegro.

Several features of the recession and financial crisis carried the label ‘extraordinary', not least the huge shifts in asset valuations.