The ECB European Central Bank failed to auction $55 billion in Euros it had planned to and that which it did (31.8 billion Euros) was at a much higher rate (0.54%) than it had been offered at the start of the program. You can read the full details here from the cats over at the FT in the article ECB fixed term deposit Fail.
Did you notice our equity markets, as usual, ignoring the signals the bond market was sending yesterday? In particular the long end?
For sure you didn't if you wait for your cues from the "would you put new money to work here" crowd at CNBC.
Equities are so much more sexier than bonds, aren't they?
You think maybe, just maybe, the bond markets are worth paying attention to yet?
Ahhh just tune out the bond market. Just pretend it doesn't exist, whereby you can focus on more important issues of the day, like the Tesla IPO.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
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