One theory that was going around last week was that the Japan crisis was going to hurt the eurozone.
The reason: Japan has been an active buyer in Eurozone debt auctions, and that with matters to attend to at home, this buying would stop, and the auctions would go much worse.
Well, so far that theory is a zero.
Spain just sold 4.1 billion euros worth of 10-year debt, and it went just fine.
The euro is surging this morning.
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