European Bank Shares Have Been Like Market Pariahs for a Long Time

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Treasuries, government bonds have finally stopped the skid. The interesting bit to me is that you are just seeing an absolutely merciless environment among investors now. European bank shares have been like market pariahs. One of the few active investors willing to bet on them was the multi trillion dollar fund manager capital group. It became a major shareholder in banks like douce bank, berkeley's and saintander.

China has offered “a few hundred million dollars” in lending to Sri Lanka to help alleviate a shortage of essential goods, Wall Street investors got spooked by an earnings warning from Snap, and the FT traced a massive European bank sell-off to one fund manager. Plus, Colombia looks ready to elect a former guerilla turned economist as its next president.

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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