Staley Says Europe Bank Debt Mispricing to Present Opportunity
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Debt of European banks will offer investment opportunities as new rules about resolving troubled lenders are written, said James E. “Jes” Staley, a managing partner at hedge-fund firm BlueMountain Capital Management LLC.
“As those rules get clarified, so you can force a recapitalization of the banking industry without going to the sovereign, there’s going to be tremendous mispricing between the different levels of the capital structure in these banks,” Staley said today at a Bloomberg Link conference in New York.