Copying and distributing are prohibited without the permission of the publisher. If you wish to distribute this content please contact Christopher Hunt (email@example.com) for a quote.
Subscribe today: Order Euromoney by contacting us on +44 (0)20 7779 8999 (UK) or +1 212 224 3570.
High yields and the ECB’s backstop, in theory, suggest pension funds could consider a tentative return to peripheral sovereign credits. However, reputational risk, febrile market sentiment and a lack of relative value means strategic real money institutional allocations are few and far between.