Friday, 20 April 2012

Spanish failure................from Rico

The Spanish 10-yr bond auction yesterday was...in one word...a failure.
- Spanish borrowing costs are hugely increased.

With the amount of debt scheduled to rollover, this seems to indicate that the pain in Spain has yet to begin in earnest.
- The Picador have done their job, and now it's almost time for the Toreador to sink the blade.....


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