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“MY CONFIDENCE HAS been shot,” jokes JPMorgan’s managing director and head of European credit research, Stephen Dulake, despite the fact that the world’s top 100 largest asset managers by AUM ranked Dulake and his team as number one for overall credit strategy in Euromoney’s revised take on its 2011 fixed-income research survey. With an end to the European sovereign debt crisis nowhere in sight and fears of market contagion growing day by day, even the best strategists are doubting their previously held beliefs.
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