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Swip’s Carver underweight gilts and warns US tapering is now fully priced
by Elsa Buchanan on Sep 10, 2013 at 11:24
Looking ahead, Carver views China as the biggest risk and explains a shift in sentiment is already visible. Investors moved from complacency in May and June to being ‘very concerned’, he added.
The other unknown is Europe, he said, where he is particularly cautious about Portugal.
‘They haven’t really regained market access, debt dynamics are still very poor and there are questions of sustainability regarding their latest good growth numbers,’ he said, adding there is potential for a further Portuguese downgrade to rattle the markets again.
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