Charting Spanish Redemptions & Fleeting Benefits
Submitted by: Colin Lokey
The first figure here shows Spanish sovereign bond redemptions and coupon payments coming due over the course of the next two years. Note the rather unfortunate timing of the largest redemption/coupon combination: next month, just as the country debates its bailout future. This also gives you an idea of when stress regarding the country's ever decreasing cash balance is likely to be highest:
Source: Nomura, Bloomberg
The next graphic shows how quickly the post-LTRO euphoria wore-off by looking at European bank debt issuance. As you can see, after three months, no one even remembered:
Source: Nomura
Also read:
"ECB Bond Buying: Skepticism Grows As Spain's Cash Balance Falls"
The first figure here shows Spanish sovereign bond redemptions and coupon payments coming due over the course of the next two years. Note the rather unfortunate timing of the largest redemption/coupon combination: next month, just as the country debates its bailout future. This also gives you an idea of when stress regarding the country's ever decreasing cash balance is likely to be highest:
Source: Nomura, Bloomberg
The next graphic shows how quickly the post-LTRO euphoria wore-off by looking at European bank debt issuance. As you can see, after three months, no one even remembered:
Source: Nomura
Also read:
"ECB Bond Buying: Skepticism Grows As Spain's Cash Balance Falls"
Posted by CL at 9/30/2012 3:39 PM 
Categories: uncategorized
Tags: Spain spain bailout sovereign debt LTRO
Categories: uncategorized
Tags: Spain spain bailout sovereign debt LTRO
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