Greek Debt Resumes Pariah Status as U.K. Bonds Are World Beaters
This article is for subscribers only.
With the prospect of a slowdown in inflation whetting investors’ appetite for government bonds from Germany to the U.K., Greece is once again an outlier as it haggles with its creditors over the terms of its bailout.
The nation, which set the scene for Europe’s sovereign debt crisis five years ago, had the only bond market in the euro-area currency bloc to lose money this month, according to Bloomberg World Bond Indexes. U.K. government securities returned the most among developed markets tracked by the indexes, underpinned by data that signaled Bank of England Governor Mark Carney is justified in holding interest rates at a record low for longer.