Vanguard Piles Into Europe Periphery Debt as Rate Cuts Near
- Vanguard overweight on Spain, Greece after buying more in Jan.
- Candriam upgrades Italy, Portugal to neutral from underweight
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Appetite for the bonds of nations once at the heart of the euro-area debt crisis is mounting as interest-rate cuts from the European Central Bank approach and finances improve.
Vanguard Asset Management Ltd., the world’s second-largest asset manager, and Candriam, which oversees €140 billion ($152 billion) of assets, are buying up more government bonds from the so-called periphery nations of Portugal, Italy, Greece and Spain.