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

|By:, SA News Editor

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.