US-Europe decoupling a theme for 2011, says BNP Paribas credit research head
Weakness in Europe's banks will cause the region's credit markets to lag the US in the coming months, according to BNP Paribas' global head of credit research and strategy, Robert McAdie.
The US and European credit markets will continue to decouple in 2011 and financials will drive the process, according to Robert McAdie, global head of credit research and strategy at BNP Paribas in London.
Speaking at a BNP Paribas high yield conference in London on January 12, McAdie argued the European financial sector remains hamstrung by a lack of consistency and transparency, making it a poor credit investment.
“The US-Europe decoupling story will remain strong in 2011,” McAdie said. “The
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