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EUR’s Still to Go
No battle has been won, but, this market is looking to believe in something. There are many who think that the ECB is still needed to quell fears of contagion from the sovereign debt crisis. More so than ever, now that every FX trader has become a FI specialist and is currently inversely trading risk with periphery yields. Perhaps the ECB needs to reactivate its bond buying program to keep periphery yields down? Despite higher yields having spread to Italy ahead of tomorrows litmus test bond issue there, the ECB has but the program on hold and has stayed out of the market for the last 13-weeks. These periphery ... (full story)
