Italy sold EUR 8 billion in 6-month notes this morning. Unlike Germany's Bund auction Wednesday, Italy did not have an auction failure, yet the yield paid was 6.504%! The 5 and 10 year bonds have since collapsed even further, with the 5-year yield rising to 7.847% and the 10-year to 7.43%. Italy's next bond auction is Tuesday, Nov 29th.
It's all over now folks. The ECB/ Fed will soon have to print or the ballgame will be over. QE to Infinity.....AND BEYOND!!!
