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BlackRock Buys Greek Debt Seeing Peers too Pessimistic on Prices

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After months of political and financial turmoil pushed sentiment toward Greece’s beleaguered government-bond market to fresh lows, it received a shot in the arm from the world’s biggest money manager.

BlackRock Inc., which oversees about $4.7 trillion, bought Greek debt last week, benefiting from prices that were overly depressed by investor concern that the nation would struggle to implement requirements of its latest bailout deal, according to Michael Krautzberger, head of euro fixed income for the company in London.