One of Europe’s biggest asset managers is upbeat on UK bonds, saying they will perform much better than euro-area peers after the start of Donald Trump’s second stint as US president.
Pictet Asset Management’s chief strategist Luca Paolini said on Wednesday that the UK was less exposed to Trump’s tariff plans than Europe because the country’s economy is driven by the services sector. UK assets would therefore be “the natural place to be” in a year’s time if new trade barriers are erected, he said.
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Publish date : 2024-11-21 01:17:00
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