European Bonds Throw A Tantrum | Joseph Wang
Forward Guidance
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The European Central Bank's Precondition for Raising Rates
The spread between Italian yields and German 10-year yields is now widening. Joseph: I'm not sure that there's going to be Enough private sector buyers for let's say periphery sovereign debt without the ECB The ECB played a really big role even though the quantities purchased ones at large Just the thought that the ECB was here supporting the market was was a big force in keeping those spreads bound now If the ECB is leaving Then then you have to find new buyers and it's not clear what price those buyers will emerge.
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