Strange Times
Unless I’m very much mistaken, The Markets now consider Italian short-term government debt less risky than US Treasury Bills. Maturity Coupon Price Yield Change Italy 09/06 2.75 100.7700 2.30 -0.01 04/09 3.00 100.5400 2.89 -0.02 02/15 4.25 103.9400 3.81 -0.03 08/34 5.00 108.8080 4.51 -0.01 US 11/06 2.88 99.8750 2.94 +0.02 11/09 3.50 99.5859 3.59…
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