HALISTER1: Allianz Looks to Buy Bunds After ECB Gives Tapering Steer

Allianz Looks to Buy Bunds After ECB Gives Tapering Steer

(Bloomberg) -- Not all bond investors will run for the hills should the European Central Bank announce a tapering timeline for its $2 trillion government-debt purchase program.
  • David Hollis, a multi-asset money manager at Allianz Global Investors GmbH, is preparing for the day when the ECB says when and by how much it will scale back acquisitions so he can dive into German bunds, particularly the longer-dated securities
    • He and Jorge Garayo, an analyst at Societe Generale SA, said an ensuing selloff may create a good chance to buy
  • ECB President Mario Draghi may give a clue as to his thinking at meetings with central bankers and economists in Jackson Hole, in the U.S., beginning Aug. 24. The ECB is set to meet Sept. 7
    • He is also scheduled to address a conference in Germany on Aug. 23
  • To read full story, click here
To contact the reporter on this story: John Ainger in London at jainger@bloomberg.net

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

People
David Hollis (Allianz Global Investors GmbH)
Jorge Garayo (Societe Generale SA)
Mario Draghi (European Central Bank)

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