"An official for the Bank of Italy says Bonds Bids, Offers Show Government Bond Market "Frozen".
Yield on 10-Year Italian bonds opened above 7% for the second consecutive day but the ECB acting as buyer of only result stepped in to push the yield down to 6.75%. The rally failed to hold, and the 10-year Italian bond yield now sits at 6.95%.
Bloomberg reports Italian Yields at 7 Percent for Second Day as ECB Rally Fails to Hold..."
at http://globaleconomicanalysis.blogspot.com/2011/11/european-government-bond-market-frozen.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
Spreads between bid and ask government bond prices indicate markets are “frozen,” said Franco Passacantando, Bank of Italy’s Managing Director for Central Banking, Markets and Payment System in Milan today.ECB Steps in But Rally Fails to Hold
The European Central Bank is “almost exclusively buying Spanish and Italian bonds,” he added.
Yield on 10-Year Italian bonds opened above 7% for the second consecutive day but the ECB acting as buyer of only result stepped in to push the yield down to 6.75%. The rally failed to hold, and the 10-year Italian bond yield now sits at 6.95%.
Bloomberg reports Italian Yields at 7 Percent for Second Day as ECB Rally Fails to Hold..."
at http://globaleconomicanalysis.blogspot.com/2011/11/european-government-bond-market-frozen.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
