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Is the Eurozone Crisis Really Over?
Ten year yields on Italian and Spanish government bonds hit new lows this week as they slipped below 3% suggesting that all is going well in the Eurozone – but is it? Whether or not that's true has profound implications for the Euro. The out-performance of peripheral Eurozone bond markets, with the convergence trade once again proving profitable, is down to a number of factors. The Eurozone banking crisis has been contained, there are signs of economic recovery and probably most importantly in the short to medium term, the European Central Bank is behaving more like a normal central bank. Not only is it prepared to ... (full story)
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