Fun with bunds
Nov 23rd 2011, 21:16 by G.I. | WASHINGTON
NEWS that a German auction of government bonds ("bunds") flopped rattled markets today. Since bloggers don't spend a lot of time immersed in the mechanics of European bond auctions, I asked Lorenzo Pagani, of Pimco's European government bond team, to explain how Germany's auction process works and what the Bundesbank's role is. He replied: ...