A guide to eurozone bond auction styles

Given the number of diverse conventions in eurozone debt issuance, FT Alphaville wonders to what degree processes will have to be consolidated before any such thing as a eurozone bond can be considered. Marc Ostwald of Monument Securities, meanwhile, performs the invaluable service of explaining at length that you can't really look at a set of auctions across the eurozone and conclude everything is improving (nor equally, that everything is going to pot). For now, you still have to look for national context.