Eurozone
How long can emerging market debt continue to shine?
Money has been pouring in but dangers lurking in background
The drumbeat for bond investors is that 2018 will mark the end of a historic bull market. But the allocations they are making in the key month of January tell a different story.
Sales of debt by eurozone periphery countries and emerging markets have had a blistering start to the year, with Spain's ability to attract €43 billion of orders for a 10-year bond the most vivid demonstration of investors' willingness to take on risk within the universe of sovereign borrowers.
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