Carl Weinberg, chief economist at High Frequency Economics, says a general flight to quality in bonds, particularly in benchmark sovereign bonds, is cheapening the euro, which also suggests investors are moving their money out of the area. Weinberg says Spanish GDP growth may be the only offsetting factor that’s keeping the European economy from contracting more in the second quarter than in the first. Weinberg says Europe’s economy is still about 3.5 percent weaker in terms of GDP growth than when the economic depression, as he calls it, started in 2008. Weinberg speaks with Bloomberg’s Kathleen Hays and Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage."
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