Long end euro lust rekindles Greek hopes
This week saw barnstorming trades from Italy and the European Financial Stability Fund (EFSF) in euros with the long end of the curve proving to be the strong end, and now rumours are swirling around the prospect of a Greek sovereign deal.
Investors piled around €25.5bn of orders into Italy’s 50 year BTP tap and EFSF’s new 10 year and 2053 tap, as the market succumbs to a hunt for yield.“Anything with a bit of yield on it is going to be snapped up,” said one SSA banker. “The ...
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