PIIGS Bonds Get Slaughtered At Close

PIIGS Bonds Get Slaughtered At Close

(from zerohedge.com)

“Portuguese and Italian sovereign bond spreads have risen for four weeks in a row now (with Portugal +29bps this week alone and near 2013 wides) but the close today was unusual in its agression. Portugal had been blowing wider since yesterday, but minutes before the close today, Spain and Italy were slammed higher in yield/spread and lower in price (BMPS unwinding?) Of course European stocks didn’t care – Greece up 5.6% on the week, Spain +3.3%, Italy +3%… ‘fixed'”

Well, predictable, the merger of parsonage socialism with marxist socialism in power, is fatal for any economy, it leads to the consolidation of power, of castes created with the method of the maximum level of incompetence.


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