From Market Ticker, 2011-11-23
by Karl Denninger
It's pretty-much over at this point....
This morning Germany had a failed Bund auction. That's not particularly noteworthy; it happens from time to time.
But what's noteworthy is what happened to bond yields everywhere through Europe in response: They blew out.
The Greek and Italian "problem" is no longer about Greece and Italy. It has been
