Submitted by Alexander Gloy of Lighthouse Investment Management
The (Euro) Answer, My Friend, Is Showing In The Bond Market
Politicians and non-elected maquinistas are still trying to figure out how to make the still-borne EFSF (European Financial Stability Facility) walk, or better, fly. A month after the “miracle of Cannes”, the trumpets of victory over the debt crisis have fallen silent. Instead, the first EFSF bond issue after the G20 summit ended up in disaster (reduced,
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