Slow ahead for euro rates business
Investors have grown increasingly worried about exposures to eurozone sovereigns given the problems faced by Greece and others. Christophe Mianné, head of global markets at SG CIB, warns the second quarter will prove to be tough for the European rates business.
At one point in May, things were looking pretty shaky for the eurozone. The debt crisis in Greece had spiralled, and several other nations within Europe – specifically Portugal, Ireland, Italy and Spain – were under growing pressure. A €750 billion emergency loan package agreed by the European Union and the International Monetary Fund on May 9, designed to prevent a sovereign debt crisis spreading across Europe, gave markets some breathing room. But concerns about the future of the euro, and the
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