Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Buy Soccer Finalists’ Bonds Versus France, Morgan Stanley Says

Investors should buy Spanish and Dutch three-year government bonds against equivalent-maturity French securities, according to Morgan Stanley.

“Successful Spanish supply has removed short-term funding concerns,” Laurence Mutkin, a managing director at Morgan Stanley in London, wrote in a research report dated July 9. “We also see upside risk to Spain from the bank stress tests. Our tactical model flags Holland as an attractive long due to better momentum, risk-adjusted carry and business cycle. We also find the commitment to fiscal austerity attractive.

‘‘By contrast France has a poor record on fiscal reform,’’ Mutkin said. ‘‘Similarities between our recommendations and recent World Cup performance are coincidental.’’

Investors should buy Dutch bonds maturing in January 2013 and Spanish notes due April 2013, and sell French securities coming due January 2013, Mutkin said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.