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Yamana Gold, Inc. Message Board

  • quailrunrd quailrunrd Apr 29, 2009 1:54 AM Flag

    Tomorrow we will observe a "event risk"

    Event risks are not limited to foreign central banks. U.S. is about to experience many of them starting with tomorrow 7 year bond offering. From the Telegraph:

    "Unless this capital is forthcoming, a clutch of countries will prove unable to roll over their debts at a bearable cost. Those that cannot print money to tide them through, either because they no longer have a national currency (Ireland, Club Med), or because they borrowed abroad (East Europe), run the biggest risk of default.

    Traders already whisper that some governments are buying their own debt through proxies at bond auctions to keep up illusions – not to be confused with transparent buying by central banks under quantitative easing. This cannot continue for long.

    Commerzbank said every European bond auction is turning into an "event risk".

    http://www.washingtonpost.com/wp-dyn/content/article/2009/04/27/AR2009042703776.html

 
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