Pease: Euro debt riskier than many equities

clock

Richard Pease, manager of the Henderson European Growth and European Special Situations funds, believes stocks on the Continent can flourish despite the sovereign debt concerns.

The European Union may have bought a little time but I believe that further intervention will probably be needed in 2011 if sovereign debt contagion is to be contained. The market is clearly unconvinced that the structural problems are resolved when yields on government debt in the eurozone range from 3% in Germany to nearer 12% in Greece. In fact, Irish and Greek 10-year government bond holders have seen their bonds lose about a quarter of their value in 2010, compared to modest positive returns from European equities. Interestingly, we enter 2011 with government debt looking poorer val...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Chris Justham: All I know about love and the next 12 months

Chris Justham: All I know about love and the next 12 months

'There's power in admitting that you don't know'

Chris Justham
clock 22 January 2026 • 2 min read
Rathbones looks for growth after year of internal focus during Investec merger

Rathbones looks for growth after year of internal focus during Investec merger

Growth in funds under management and administration to £115.6bn

Eve Maddock-Jones
clock 15 January 2026 • 3 min read
Brooks Macdonald returns to positive flows in Q2

Brooks Macdonald returns to positive flows in Q2

Funds under management/advice now top £20bn

Jenna Brown
clock 15 January 2026 • 2 min read