There's More Demand for Infrastructure Assets: Parker
After all the fanfare around European countries selling bonds with the longest-ever maturities, the reaction to Donald Trump’s victory may be a sobering omen. The result of the U.S. presidential election drove up yields on 30-year Treasuries last week by the most since 2009 and bonds from the euro region followed. The slide in the price of Italy’s 50-year bonds sold in October means that an investor who bought 100 million euros ($108 million) of the securities and held them through Friday was left nursing a paper loss of 13 million euros, according to data compiled by Bloomberg. ECB bond buying has pushed the average yield on euro-area debt securities with due dates of a decade or less to a record-low minus 0.108 percent by September. Credit Suisse Senior Advisor Robert Parker discusses with Anna Edwards and Yousef Gamal El-Din in London and Manus Cranny in Dubai on "Bloomberg Daybreak: Europe."