SPEU - End Of An (QE) Era For EUR And GBP Corporate Bonds

• After years of supporting corporate credit, the European Central Bank and Bank of England are set to reverse course, just as global growth begins to slow.
• While the loss of support will be felt in both markets, the differences in program structure and portfolio composition will have distinct impacts.
• One possible area of opportunity for investors is the banking sector: Neither the BoE nor ECB included banks in their purchase programs, and as a result the sector has traded at a discount to corporate peers.

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