Euro nations mad debt auction starts this week.# Stock
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European nations are expected to sell more than $43 billion in debt this
week as optimism has returned to the region. (Read: the European Central
Bank is all but promising a bailout.) Italy sold $9.8 billion of debt, near
the maximum, at auction today... The troubled nation paid 6.08% for 2
billion euros of 10-year debt, down from 6.98% at the last auction on
December 29. It also sold 3.57 billion euros of five-year bonds at 5.39%,
down from 6.47% on December 14. Italy also sold 1.9 billion euros of bonds
due in 2016 and 2021.
Belgium will auction 3 billion euros of bills tomorrow. Spain will sell
notes due in July 2015, October 2016, and January 2017 on February 2.
Germany, France, and Portugal also have upcoming auctions. Guess which of
those three countries will pay the most for its debt?
Portuguese five-year bonds hit a euro-era high today of 22.5%, the same
level at which Greek debt traded in the midst of the crisis. And that's with
Bloomberg reporting the European Central Bank (ECB) is buying Portuguese
paper today. Even with the $500 billion "loan" the ECB gave to European
banks, the system is failing. But the ECB won't let its sovereigns fail...
It will continue to print, print, print…
week as optimism has returned to the region. (Read: the European Central
Bank is all but promising a bailout.) Italy sold $9.8 billion of debt, near
the maximum, at auction today... The troubled nation paid 6.08% for 2
billion euros of 10-year debt, down from 6.98% at the last auction on
December 29. It also sold 3.57 billion euros of five-year bonds at 5.39%,
down from 6.47% on December 14. Italy also sold 1.9 billion euros of bonds
due in 2016 and 2021.
Belgium will auction 3 billion euros of bills tomorrow. Spain will sell
notes due in July 2015, October 2016, and January 2017 on February 2.
Germany, France, and Portugal also have upcoming auctions. Guess which of
those three countries will pay the most for its debt?
Portuguese five-year bonds hit a euro-era high today of 22.5%, the same
level at which Greek debt traded in the midst of the crisis. And that's with
Bloomberg reporting the European Central Bank (ECB) is buying Portuguese
paper today. Even with the $500 billion "loan" the ECB gave to European
banks, the system is failing. But the ECB won't let its sovereigns fail...
It will continue to print, print, print…
