Lars Felds Ordnungsruf: Vor Frankreichs Zinskurve sollte ganz Europa zittern
Jede Zinserhöhung zieht die nächste nach sich – die Spirale zur Schuldenkrise dreht sich, und Europas Notenbank hat kaum ein Werkzeug, sie zu stoppen. Ein Gastbeitrag.
In recent weeks, global bond markets have shown growing nervousness. Over the past years, national debts have risen significantly, particularly the debt of individual countries, which must offer higher interest rates. However, the relationships are complex. Bonds are an important part of many investors' portfolios, alongside stocks and real estate.
Although the importance of bonds decreased during the zero-interest-rate phase after the financial crisis, they still have a place, especially among large institutional investors. Higher yields provide an incentive to invest in bonds. Risk assessment is also crucial. Investors should not put all their eggs in one basket, as it is said.
Government bonds are typically considered relatively risk-free, a notion reinforced by regulation. Insurance companies and pension funds must hold a certain percentage of government bonds in their portfolios; banks invest in them because banking regulation considers this a zero-risk investment.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
