Bond Outlook by bridport & cie, October 6th 2010

Last week we alluded to the Beijing Dollar Rate Fixing Committee, to remind readers of who is exerting ever greater influence over the USD exchange rate. We now imagine that a second committee has been created to save the EUR, and influence its exchange rate, namely the “Beijing Committee to Harmonise Euro Interest Rates”, whose main weapon is to purchase, in as public a manner as possible, the bonds of wayward countries like Greece, Spain and Ireland.