(Bloomberg) One of Western Europe’s most dramatic bond-convergence trades this decade — Greece over Germany — looks like it will reward investors yet again in 2018. London hedge fund Algebris Investments is among those betting economic momentum will take the country’s borrowing costs even closer to Germany’s after the Mediterranean country’s 10-year yield spread narrowed by about 44 basis points this month alone. Algebris says it may shrink by as much as 75 basis points.
Hedge Fund Sees Juice in Greek Rally as Yields Hit 2006 Low
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