Month: April 2010

Miraculous or suspicious – Italian bond sales and market rallies.

A couple of days ago in ‘Europe’s non-linear moment, I mentioned how Italy suddenly had a very nearly failed debt auction. Only just enough buyers to cover the debt. Failed auctions are bad news. At this time seriously bad news. Today Italy had another auction. It was, as one ‘strategist’ was quoted as saying, “… …

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Euro Debt Contagion

Despite all the assurances from the IMF and the EU that ‘Everything is fine, Greece is going to be bailed-out, reprimanded, forced to make cuts that would make your gonads shrivel and made to write out 64 Billion times, ‘I shall not lie about my debt”, despite all that, today the yield (the interest rate …

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