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The ECB's cheap LTRO financing - AKA back-door bond-purchases - continues to weave its magic,...

The ECB's cheap LTRO financing - AKA back-door bond-purchases - continues to weave its magic, enabling Italy, Spain, Belgium and even Greece to hold successful bond auctions. Italy sold €6B of bonds, bringing its issuance this year to €35.4B, or over a third of the €90B it needs to repay or roll over in 2012.
Comments (2)
  • So who is buying that offal? Pension funds and central banks?

     

    Are CALPERS and CALSTERS first in line, along with parabolic post Steve Jobs AAPL at $502 as a "deal"?
    14 Feb 2012, 08:31 AM Reply Like
  • no European banks are....then they sent it to the ECB as collateral....get a financial benefit from that....then they can borrow more..and buy more...its a ponzi...pure and simple
    14 Feb 2012, 08:49 AM Reply Like
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