Spain makes formal request for EU bank bailout funds, expects fund for bank recapitalization around Dec 12th. They confirm request for 37 Billion Euros for 4 banks.
On the back of this we had a spike to the downside int he Bund of 30 pips before retracing on the back of heavy volume. As this wasn't a country bailout, more it was a Bank bailout, is why we haven't seen much more of an initial down move.
The move was well timed as it helped me get out of my long Euribor Spread positions, which I was holding for ages!
On the back of this we had a spike to the downside int he Bund of 30 pips before retracing on the back of heavy volume. As this wasn't a country bailout, more it was a Bank bailout, is why we haven't seen much more of an initial down move.
The move was well timed as it helped me get out of my long Euribor Spread positions, which I was holding for ages!
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