h/t Zαχαρη
Government bond spreads of Spain, Italy, and Belgium are at all-time highs. The yield on 10-year bonds of Spain and Italy are now both well North of 6%.
..
Expect a "stern warning" from ECB president Jean-Claude Trichet soon. Also expect the market to laugh in his face.
Any bets on when the EU has another emergency meeting? I suspect two more days of this action might do it. Now answer this: what can they do that makes any sense?
Mike "Mish" Shedlock
Government bond spreads of Spain, Italy, and Belgium are at all-time highs. The yield on 10-year bonds of Spain and Italy are now both well North of 6%.
..
Expect a "stern warning" from ECB president Jean-Claude Trichet soon. Also expect the market to laugh in his face.
Any bets on when the EU has another emergency meeting? I suspect two more days of this action might do it. Now answer this: what can they do that makes any sense?
Mike "Mish" Shedlock
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