There has been a reduction in perceived political risk in the euro zone following the victory of pro-European centrist Emmanuel Macron in France’s presidential election last month. But negative-yielding government bonds across the trading bloc started rising again, and there are real worries over the state of the Italian economy. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Negative euro-zone bond yields epitomise everything that’s wrong in markets

Sub-zero-yielding debt has allowed European market sentiment to become dangerously detached from countries’ underlying fundamentals

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There has been a reduction in perceived political risk in the euro zone following the victory of pro-European centrist Emmanuel Macron in France’s presidential election last month. But negative-yielding government bonds across the trading bloc started rising again, and there are real worries over the state of the Italian economy. Photo: AFP
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