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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (48876)9/23/2012 10:41:31 PM
From: Spekulatius   of 78747
 
Pretty good Article re European banks. It shows where Draghi's money goes, the ECB - sovereign debt carry trade: borrow for <1% from the ECB and buy Italian or Spanish sovereign bonds yielding 6%. It works unless your home country default but then you are toast anyways, if you are a bank, so you might as well double up. it's easier than to make loans in any case. Well, here is the article, just in case somebody got to bullish on Europe:

bloomberg.com
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