Germany -- You're Next
As I write, the Italian sovereign bond yields have increased and flattened, with the 2-year to 10-year spread close to zero and both yielding above the absolute default level of 7%.
The financial media is drawn like moths to a flame into discussions of contagion into the other debtor sovereigns in Europe: Spain, Ireland, Portugal. And that focus is fine for institutional speculators and traders at this point. Retail traders and investors, though, should avoid trying to game such issues, and rather look at the longer-term prospects for what is unfolding now....645 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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