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Europe

The European debt crisis has been testing the nerves of investors since 2010. Nevertheless, it presents both risks and opportunities. Although it is difficult to analyze how the crisis will evolve from day to day, it is imperative that investors have a plan for investing amidst ongoing uncertainty.

Economic Expansions and Recessions
European banks are at risk
 
  • Prior to the inception of the Euro, sovereign funding costs varied among European nations. However, following the introduction of the Euro, 10-year European bond yields converged to a similar level.
  • During the sovereign debt crisis, it became apparent that some European nations were not as fiscally strong as others, therefore causing the bond yields of certain nations to skyrocket.
  • ECB action has helped bring these yields back down to more sustainable levels, helping to make sovereign borrowing costs much more reasonable for troubled nations that are trying to heal and reducing volatility in European debt markets.
Discussion Slides
Sovereign Debt Stresses
Global Equity Valuations - Developed Markets

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