Bill Blain Flips Out: “Not Much Surprises Me Any More About Markets, But Really? Really!?” 


Source: Zero Hedge

On Monday morning, we reported that in a stunning development, chronic defaulter Argentina – which just one year ago emerged from its latest bankruptcy – has found enough willing greater fools to sell 100-year bonds to. One person who especially stunned, was Mint’s Bill Blain, who issued an entire note describing his disgust with what the market has devolved to.

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Argentina 100 Year Bonds: Really? Nobody Believes, But They Will Buy.

“Everyone should learn to Tango before they die.. ”

Markets can be a triumph of hope over reality. The news Argentina is going to launch a 100 year century bond caught my eye today.

Not much surprises me any more about markets, but really? Really!?

This appears to be a classic example of Blain’s Market Mantra No 3 – “The Markets have no memory, and neither do buyers.”

However, I expect to…

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