government debt

Fidelity's Ian Spreadbury has said he is short German interest rate risk in the view that the eventual move towards a 'eurobond' solution will cause yields to rise.

Berlin is to sell up to €5bn of two-year Schatz notes (treasury notes) at auction today with a 0% coupon, as investors' flight to safety gathers pace and heightens 'market dislocation'.

Franklin Templeton Investments' Michael Hasenstab has boosted exposure to Hungary in the $60bn Templeton Global Bond fund, meaning the overall company is likely to hold more than 10% of the country's government debt.

Eurozone finance ministers have signed off a second bailout for Greece, paving the way for the first €130bn package this month that aims to finance the country until 2014.

The government received more income than it spent in January, posting the highest surplus for four years following a drive to cut public spending.

Barings' multi-asset team has bought £350m in Italian government bonds in the expectation European banks will use the ECB's Long Term Recovery Organisation (LTRO) to buy government debt.

Franklin Templeton Investments' Michael Hasenstab has defended his Hungarian debt position amid reports the group owns 10% of the country's local bond market.

Developed economies will see $7.6trn worth of debt mature this year, with Italy towards the front of the refinancing queue at a time when its borrowing costs remain elevated.

Around 10% of Hungary's local bond market is owned by Franklin Templeton Investments, according to reports.

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