A safe haven instrument must be liquid. The euro offers the government bonds of Germany, France and Italy. These bonds are liquid in small quantities but, in large quantities, operations begin to move the price. This is not true for US government bonds which are liquid in all quantities.
A safe haven instrument must be liquid. The euro offers the government bonds of Germany, France and Italy. These bonds are liquid in small quantities but, in large quantities, operations begin to move the price. This is not true for US government bonds which are liquid in all quantities.