Spanish Mortgage Bonds a Better Value Than U.S. Corporates - Presented by: The Aol. On Network

Housing markets have bottomed in peripheral Europe making this a good time to own Spanish residential mortgage backed securities, said Gary Herbert, portfolio manager for the Legg Mason Brandywine Alternative Credit Fund. Herbert is also bullish on mortgage-backed bonds from Greece and Portugal, saying that unemployment is peaking in those formerly hard-hit areas and the ECB's easy monetary policies will quicken the pace of growth.



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