22 Jul Fixed Income Perspectives – “Greece Is the Word”
Posted at 16:34h
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Voya Investment Management – Fixed Income Perspectives – July 2015
With apologies to Olivia Newton John and John Travolta, the Greek public’s “no” vote on the reforms necessary for additional rescue funds gave the market chills that soon were multiplying. “Better shape up” was the response from the country’s troika of creditors. With banks closed and the economy on the verge of collapse, Greek lawmakers had no choice but to do just that, approving new austerity measures that proved the euro zone is the one that it wants.
Though Greece has dominated headlines in recent weeks, the situation there is but one of three components of the global macro environment that will continue to influence markets.