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Add Spanish sovereigns and cut corporates, says Euro bond chief

Franklin Templeton’s head of European fixed income has increased his exposure to Spanish sovereigns and cut investment grade corporate bond holdings over the past quarter .

In this video, David Zahn, who co-runs the Templeton European Total Return fund with John Beck, said the country's government bonds offer more value and better liquidity than investment grade European corporates.

Elsewhere, Zahn said he expects quantitative easing in Europe in a more direct form, as a logical consequence of the Targeted LTRO scheme, the forthcoming Asset Quality Review and the proposed asset-backed securities purchasing programme.

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