IFR Comment: Staying long Spain for end-game

17 October 2012 | By Divyang Shah, Senior IFR Strategist

Policy makers are helping to keep markets focused on the end-game which involves Spain embracing a precautionary program (ECCL), which in turn makes way for a triggering of the ECB’s OMT program. The immediate risk related to rating agencies is out of the way for now, leaving markets to simply ponder over the timing of the above sequence.

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