Nordea Sold Italy Bonds on Growth as ECB Weighs on Sentiment

Nordea Investment Management, part of the Nordic region’s largest lender, sold some Italian bonds in the past month amid concern the global economic recovery may be derailed by higher oil prices.

The world beating rally in Italian debt this year may also fade after the European Central Bank shielded itself from potential losses in Greece’s debt restructuring, said Martti Forsberg, responsible for managing about 2.5 billion euros ($3.3 billion) at the investment company’s Helsinki office. The world economy is “not out of the danger zone,” International Monetary Fund Managing Director Christine Lagarde said Feb. 27.