That Was A Quick Fix: Spain Saved By Draghi Winking, Central Bank’s Bond-Buying, Hedge Funds Front-Running

Thanks to more jawboning promises of QE from Draghi this morning, peripheral bond yields in Europe have collapsed once again. Any minute now, Spain will be a lower-yielding bond than the US... and at this pace, you will have to pay Spain to lend it money within a few months...
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