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LOWER RATES FOR LONGER

Dovish guidance from the European Central Bank (ECB) has erased the prospect of higher rates in the foreseeable future and led to significant repricing of bank equities on consensus earnings downgrades. Romain Miginiac, Credit Analyst at Atlanticomnium, explains why the lower for longer interest rate scenario that is currently priced in by investors is supportive of his bullish view on subordinated financial credit.

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