European lenders see higher funding costs

03/28/2013 | Wall Street Journal, The

In the wake of Cyprus' rescue, European banks are finding it more expensive to borrow. On Wednesday, the spread between banks' borrowing costs and Treasury debt hit its highest point since August. "Euro-zone financials are expensive and unattractive," said Andrew Balls, head of European portfolio management at Pacific Investment Management. "And the banking sector in the euro zone remains a source of instability."

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