City Diary: Eurovision Song Contest offers economists clues to debt crisis Taking a pop at bunds - German government debt - Stewart Cowley, a fund manager at Old Mutual Asset Managers, pulls no punches. "The German bund market is absurdly overvalued," he tells Investment Week. "They are 'Facebunds": more overvalued than the absurdly overvalued Facebook." Ouch. Boardroom terrors Talking of schoolyard insults... Tesco was "kill or be killed," bore the "hallmarks of the Wild West" and, most damning of all, was "like a school playground," back in the day, we learn. Sir Terry Leahy's new book paints an alarming picture of the supermarket he joined as a "shocked and scared" marketing man. Now that he's departed as its CEO, can we rest assured that execs are not about to brawl in the shopping aisles? Diary puts in the call. "That section of the book relates to Sir Terry's early days, back in the late 70s," comes the tart reply. Thanks to his leadership and that of [his successor] Philip Clarke, Tesco is a very different place today.