As market volatility increases, one region that seems to be keeping a firm footing is Southern Europe, according to a recent article in The Wall Street Journal, that says, “If the events of 2018 haven’t dented the global growth outlook too much, then that could persist.”

Italian, Portuguese and Greek stock markets are all in positive territory this year, the article reports, and Southern European government bonds are also performing well. “The mix of good bond-market conditions, low yields and growth is helping to relieve strains on public finances and banks, creating support for further expansion.”

European assets, the article says, offer a way for investors to take advantage of global growth. “In the U.S.,” it says, valuations are high and there are worries that the expansion is closer to its end, while Europe is earlier in the cycle.”

The article points out that, for the time being, investors seem to be looking past the still unsettled political climate in Italy and a possible “clash over tax and spending with Brussels” as well as other “lingering problems that Italy and other Southern European nations still face.”