It was such a promising morning for Spain which sold some €2.5 billion in 2015 and 2016 bonds earlier in yet another meaningless and symbolic LTRO-covered exercise, when things went from bad (bank run, pardon, withdrawal meme) to worse, as local Expansion newspaper says Spanish bank ratings will be downgraded in a few hours.
Google translated:
The rating agency Moody's announced this morning that the Spanish bank announced in the next 12 hours, as by law, a reduction in its credit
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