From: ABNAMRO CREDIT SALES (ABN AMRO)
At: 12/20 5:18:53
|SPAIN||25 1/2/27 1/2||19/21|
In the Eurozone, it’s probably the case that if one goes, they all go, and the shorter the better as if they don’t go bad, market will continue to think they never will and you’ll be able to reload reasonably. That’s why I bought two-year Germany a while back at maybe two cents. Don’t know where that is now.
And by buying the least expensive, you can buy more of it for the same price.
US and UK look way overpriced, as Japan was. No inherent default risk for the US, though congress could elect to default for political purpose, which happened in 1996 (?), when Ruben tricked them into not defaulting.