LTRO brings relief but fears build over damaging dependency

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LTRO brings relief but fears build over damaging dependency

March 13, 2012 12:00 AM

The ECB’s Long term Refinancing Operations have sent cash-rich investors rushing back to the primary and secondary markets. But while some jurisdictions have re-opened, others remain closed. Steve Gilmore looks at how a €1tr liquidity injection has affected primary issuance, and whether a secondary rally of epic proportions is headed for disaster.

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