It’s Skirmish So Far, not a War
So much talk about “currency wars” and so much wasted space. The G-7 is now telling us there is no such thing as a currency “war”. Each country is just following its own domestic policies. The check is in the mail.
What is going on?
Show me the OMT
Draghi is going to outline how OMT would work for Spanish officials. This has helped spark a nice rally in Spanish and Italian yields today.
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