20.08.2010 - The big pfffft and the Euro-peripherals

From FT Alphaville: We already know there’s a two-tiered market out there in Europe, so may as well put it to work chasing yield. Norway’s sovereign wealth fund is already loading up on peripheral government debt, after all. And there’s plenty of positions here — government-backed banks, say. But the position overall ain’t going to last, thanks to its key underpinning by the EFSF, which we presume isn’t going to last forever..............................................Full Article: Source

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