RT @HannoLustig: 1/great 🧵on debt issued by EU not trading like the EU safe asset we hoped for. 👇

EU signals that EU debt is different from national debt and should be priced accordingly, but the ECB is signaling that all national debt is implicitly backstopped.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1602351756381650944