We hadn’t realised – Spain’s bond issuance calendar for this year is one of those landscape-adorned affairs which the Italians have been known to do.
(Click to enlarge)
And a very beautiful tour of Spain’s protected biodiversity it is too. Italy’s Tesoro went with euro coins this year. Boring.
Hat-tip to Societe Generale’s fixed income daily, who ruin it for everyone:
Ultimately, the lack of tappable bonds and difficulties in launching new bonds could raise the risk that Spain will look for relief.
Bringing the debt home – FT Alphaville