Indeud.
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mr.thaler would love this.
I’m past the point of caring, actually. Since they haven’t actually bothered to act on any of their prior suggestions, I can only conclude that they are trying to spur the markets into not causing a week of horrific, failed auctions. Maybe they win; maybe they don’t.
But traditionally bond markets are not known for their speculativeness or ability to be swayed by anything less than results.
That worked so well with the EFSF guaranteeing government bonds, how could it not save the Eurobanks?
Let’s get a few rumors about the second coming in there, to really get this market off the ground.
It’s better than a haircut. That haircut talk may have precipitated the sell off.
It’s not better than anything if when they hold the auctions, buyers don’t show up.
How many bond guys do you know that are going to be enticed by “only” 70% of downside?
What about you? Would you buy into that “guarantee.” Looking at EU budgets, sounds like a “guaranteed” loss to me.
And if they don’t show, we’re back to square one. I want to see fucking results. NO MORE TALK.