Biggest market trades that lit up 2017

Page created: Wednesday, 27 December 2017 15:12 GMT

Bond Market  Investmwnt  Portuguese Bonds

Sovereign bonds — Portugal

Portugal has been the big winner in the compression of eurozone spreads, as the bond market reacts to the bloc’s improving economic performance.
The Iberian nation began 2017 with 10-year paper yielding 3.7 per cent; it ends it hovering around 1.84 per cent. The spread over its neighbour Spain has also compressed sharply, and sits at just 36 basis points for 10-year debt — down from 235bp at the start of the year.