Are we there yet?
No.
Are we there yet?
No.
That seems to be the attitude of the market regarding Spain’s inaction on seeking the bailout that the market has long considered inevitable. Spanish yields are pushing higher once again, up 14 bp on the day to 5.66% as the waiting gets a bit tiresome to those expecting a turbo boost to their bond positions once the ECB begins its Open Market Transactions program, which can only come after a bailout is agreed.
