Economic Autosuggestive Nonsense

Handelsblatt joins the most recent mutation of the mass hysteria that the Greek bond market is recovering. This, so goes this most recent fairy tail, shows us that “the Greek program” is working. Unfortunately the Greek bond market is recovering only in the same sense that a dead body can be considered cured of its infections because none of the organisms causing them are alive: there is no Greek bond market!

Yes it is true that the 10-year Greek Government Bond has been dropping but the fine print says this is a nonsense number: Volume=0!

Dropping returns on zero volume means there is not market

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