Report
The reaction of euro-zone investors to the ECB’s monetary policy
Faced with very low (or negative) yields on government bonds, euro-zone investors have switched to: Non-currency-hedged investments in dollars; Illiquid assets (real estate, infrastructure, private equity). This shift by investors creates new dangers: currency risk, when it is likely that the dollar will depreciate against the euro; liquidity risk if investors’ liabilities become more liquid than their assets; the risk of a bubble in illiquid assets.
Provider
Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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