Return of the bond squeeze

ftalphaville.ft.com/blog/2010/01 … -eternity/

How the fk can Irish and Italian bonds be dropping while the Greek issue is over-subscribed x4?

Somethings brewing here.

Juicy yield? suspected back-stop from the rest of the EU? Of course it was over-subscribed. The question is not how many bids, the question is the price. This was a variable tender, not a fixed.

tickerforum.org/cgi-ticker/a … ost=125810

311 bp rich to bunds is pretty rich…