Draghi Keeps Faith of Scots Seeing Stimulus Setback as a Hiccup
- Standard Life sees Spain-Germany spread at 30 basis points
- Slide in oil prices, stronger euro may help stifle inflation
Mario Draghi, president of the European Central Bank (ECB), speaks during the opening of the academic year at the Universita Cattolica in Milan, Italy, on Nov. 5, 2015.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
There’s an old mantra in finance that it’s not wise to fight the central bank, and money managers in Edinburgh are sticking by it.
When European Central Bank President Mario Draghi triggered a selloff in euro-region bonds this month by underwhelming investors with his latest measures to boost the economy, Standard Life Investments added to holdings of higher-yielding government debt such as Italy. Kames Capital also remains “pretty positive” on European bonds, said Sandra Holdsworth, an investment manager at the firm.