Is ECB's Non-Intervention Sending A Message To Belgium?

Presented with little comment (Belgium spreads +26bps) - but with Fitch worrying over France and Dexia becoming more of an anchor, perhaps the ECB is applying its own special type of pressure to get the deal done - by not intervening.

Perhaps it is Olli Rehn's comments on fiscal austerity?

Greece is the standout as 2Y yields jump over 8% to a record 121.5% yield.

Chart: Bloomberg


No comments yet! Be the first to add yours.