My have we come a far way so fast....
Usually we look at Ten Year Bond yields as a benchmark... but Draghi has said any operations would be on the short end of the yield curve....
Spain has already financed 70% of its needs for the year... If he short end stays low... manipulated low or otherwise, they can simply finance the rest of the year by selling short dated bonds... This means no pressure on Spain at all.
You almost never see a move in bonds this size.. and this is just today... Friday was also a stunner.
We go higher not lower as this condition prevails.... even though we seem to be at nose bleed heights.
Usually we look at Ten Year Bond yields as a benchmark... but Draghi has said any operations would be on the short end of the yield curve....
Spain has already financed 70% of its needs for the year... If he short end stays low... manipulated low or otherwise, they can simply finance the rest of the year by selling short dated bonds... This means no pressure on Spain at all.
You almost never see a move in bonds this size.. and this is just today... Friday was also a stunner.
We go higher not lower as this condition prevails.... even though we seem to be at nose bleed heights.