Eurozone spreads signal liquidity crisis; ECB’s proactive response remains uncertain.
Current #eurozone spread blow-out should not be read through lens of 2012 #eurocrisis. Unlike in 2012, swap spreads of all sovereign bonds (incl. germany) are moving in same direction = rising basis for #eurozone as a whole. This pattern is closer to #GFC style liquidity crisis.β¦ pic.twitter.com/OBsziN45gx — π³οΈβπ Patrick Krizan πΊπ¦ (@PatrickKrizan) December 3, …