Greek Bond Buyers Want More Action from Greece (IVZ)

Invesco Ltd.(NYSE: IVZ), a global investment management company managing assets worth $423 billion, expected more action from the Greek government to resurrect its finances.

Invesco reduced its holdings of Greek bonds in the fourth-quarter as worries about the country’s fiscal position mounted. Greece’s government announced yesterday a fresh austerity package that would raise an additional €4.8 billion.

Axel Blasé, a fund manager, said that the current spread between Greek and German bonds looks attractive but cautioned against volatility ahead. The spread, which averaged 54 basis points in last 10 years, reached a high of 396 basis points in January, the biggest gap since the euro’s debut in 1999.