To clarify, I am not buying. Perhaps this is the time one should start building a position but my risk profile doesn't match that kind of strategy. I want to see more confirmation geo-politically and technically before that would be an option.
reasoning
To me the almost certain ECB/EU bank bailout is now almost definitely certain as: 1. Juncker won't go down without a fight (and several bottles of claret); 2. From my observations, there's nothing more motivating for an institution (ECB), than it's actions being tacitly approved by another, in this case, S&P's.
It feels nice, doesn't it Mario?
If the ECB conducts its alchemy on DB, that of "vanishing" toxic debt from its balance sheets and buying (even more) of it's own debt (corporate bonds), where would be the risk?
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