Is the macro environment influencing your allocation to the Eurozone periphery?
Fundamentally, the eurozone periphery has shown good signs of growth, with a solid path of hard data indicators, as well as good figures from leading indicators. There are still a lot of reforms to be done in these countries, but we think the economic momentum can persist for some quarters. Having said that, we don’t make decisions based only on macroeconomic factors, because political issues still make investors nervous. So, we constantly analyse new political developments not only on peripheral countries, but also on other European countries.
Name: Joel Carvalheira
Title: head of Fixed Income
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