Nov. 15 (Bloomberg) -- Investors should consider buying debt issued by companies based in Italy, Portugal and Spain as Europe’s sovereign debt crisis drives down bond prices, according to Dan Fuss of Loomis Sayles & Co.
Many companies in those countries have “reasonable activities outside the country and positive cash flows,” Fuss, vice chairman of Loomis Sayles, said today in an interview on Bloomberg Television’s “Street Smart.”
“The government is the one with the financing problem,” he said.
Fuss is co-manager of the $19.6 billion Loomis Sayles Bond Fund, which beat 82 percent of competitors over the past five years, according to data compiled by Bloomberg.
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