Morgan Stanley have released a report detailing how last months big worries, Spain’s debt rollover and Hungary’s debt position, are now no longer of such a concern.
On the subject of Hungary, Morgan Stanley believes that the country is now likely to return to stability after last month’s event, and that it may be a good investment opportunity, with downside tail risk limited on its sovereign debt.
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On Spain, Morgan Stanley see the signs of distress reducing for the country after the intense period of bank consolidation.