"Bond action in the Eurozone has modestly picked up (yields steady or falling) since the ECB's 3-Year LTRO program - Long Term Refinance Operation. However, European banks still do not trust each other, not even for overnight lending.
Instead, banks park all available funds with the ECB, as noted by the Wall Street Journal in Deposits at ECB Hit Record High..."
at http://globaleconomicanalysis.blogspot.com/2011/12/european-bank-to-bank-lending-mistrust.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
Instead, banks park all available funds with the ECB, as noted by the Wall Street Journal in Deposits at ECB Hit Record High..."
at http://globaleconomicanalysis.blogspot.com/2011/12/european-bank-to-bank-lending-mistrust.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
