The Oil Trader

LTRO day ,finally after a couple of months of speculation on the amounts that banks would take in the 2nd round of quantitative easing by the back door from the ECB, we finally know the exact amount...€530B which was better then some extreme estimation's that were predicting that banks would take close to a €1Trillion! There are two points here which are important to take out from this latest take from the banks, firstly is the fact that the first feared stigma related to the banks taking money from this tenders and that would be a sign of weakness, is completely out of the window, actually it seem that the opposite is true, secondly the fact that banks encounter themselves in a bit of a paradox in terms of the amount they should bid for, this because too little would signal a lost opportunity in enhanced earnings,even if small, through the use of the funds in possible carry trades and of course the refinancing needs at a very cheap rate, but on the other hand, if they take to