LTRO a Wild Success!! Sovereign Bond Prices, I mean Yields Soaring!!

[bmichaud]

http://www.cnbc.com/id/45748250

 

Well it now appears the entire European banking system is on ECB support. Sovereign bond holders are enjoying the warm fuzzy blanket of hope that institutions leveraged 40 to 1 will bail them out by sending the:

 

Italian 10 year yield up 3.41%

Italian 2 year yield up 5.57%

Spanish 10 year yield up 3.88%

Spanish 2 year yield up 6.5%

 

Let's continue to fight debt with debt and impose harsh austerity in the middle of a recession. Beautiful.

[moore_capital54]

http://www.cnbc.com/id/45748250

 

Well it now appears the entire European banking system is on ECB support. Sovereign bond holders are enjoying the warm fuzzy blanket of hope that institutions leveraged 40 to 1 will bail them out by sending the:

 

Italian 10 year yield up 3.41%

Italian 2 year yield up 5.57%

Spanish 10 year yield up 3.88%

Spanish 2 year yield up 6.5%

 

Let's continue to fight debt with debt and impose harsh austerity in the middle of a recession. Beautiful.

 

Please name the institution(s) that are leveraged 40 to 1?

[bmichaud]

Dexia