Goldman Blows Up The Euro Trade: "The European Fiscal Expansion Trade Is Finished, Over, Pushed Too Much This Week"

By Alberto Bacis, Goldman FICC trader

Below content item will be perceived as too convoluted, focused on irrelevant details and missing the forest for the tree. I think markets are rightly focused on the forest (European fiscal expansion and Germany finally sinking their fiscal prudence). I also think current pricing is projecting the forest in dreamland rather than on planet earth.