Profile: Mike Zelouf

The director of international business at Western Asset Management tells Rob Davies why mounting budget deficits could spell trouble in the sovereign market.

For much of last year, bond investors enjoyed considerable returns as asset prices finally recovered from their crisis-induced low levels. But as the year came to a close, price increases began to tail off, and many funds even showed negative returns for November and December. Events in Dubai and the sovereign downgrade of Greece served as

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