Tuesday 13 April 2010

Market manipulation - surely not

Anyone else see how the 7x bid covered Greek notes today headed South at the same rate of knots as a Greek shipping magnates yacht but one hour after the auction. Its almost like the bid cover number was a made up pile of crap. Unless the Greek fiscal situation took a massive dive in the hour between the auction and the start of the price descent causing a logical reassessment of the required yield. No? Thought not.

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