Investors live in a “rigged world” and are being forced to “hold unattractive assets by diktat” according to Neil Dwane, the chief investment officer at Allianz Global Investors in London.
European stocks are expected to open lower on Wednesday amid concerns over Spain and Greece’s finances and following a rare earnings miss by Apple. With Spain’s borrowing costs soaring after an auction of short term debt on Tuesday an alarm signal was sounded when the cost of borrowing over 5 years rose above the cost of 10 year borrowing.