Just because Ireland missed the opportunity to lock in record low rates before last year doesn't mean it cannot do it at still low rates today. No matter what bond market disciplinarians say, extending the maturity of currently cheap debt for decades remains a desirable insurance policy against uncertainty.
Despite headwinds from slowing growth, the Eurozone has arguably never been in better condition from a structural perspective. This is an unconventional view, but it is one that deserves more attention than it gets.
Political risks are starting to appear in the eurozone, particularly in France and Germany. Will this upset investors’ upbeat views on the region?
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