"The Corzine trade lives on," writes the FT's Neil Hume after today's Spanish auction in which...

|By:, SA News Editor

"The Corzine trade lives on," writes the FT's Neil Hume after today's Spanish auction in which the country sold 70% more debt than it had expected. Hume notes all of this paper can now be turned around as used as collateral for further ECB borrowing - levering up already dangerously levered bank balance sheets even more. "President Sarkozy will be pleased."