BlackRock: SWFs, Investors Back Euro

According to Scott Thiel, CIO of fixed income at BlackRock, sovereign wealth funds and other major investors are still confident about the euro.

According to Scott Thiel, CIO of fixed income at BlackRock, sovereign wealth funds and other major investors are still confident about the euro, The Wall Street Journal reports. Investors have not shown any signs of moving away from euro assets, added the money manager.

The common currency’s resilience amid the ongoing upheaval on the balance sheets of euro-zone nations shows that wealth funds continue to believe in it. Over the long term, investors may diversify away from G-3 holdings and move towards emerging-market debt or gold, said Thiel.

Click here for the story from The Wall Street Journal.

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