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.… pic.twitter.com/OBsziN45gx — πŸ³οΈβ€πŸŒˆ Patrick Krizan πŸ‡ΊπŸ‡¦ (@PatrickKrizan) December 3, …

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