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Remember all those super-long-duration bonds that every Tom, Dick, and Henri bought with both hands and feet earlier in the year? Headlines roared of “six time oversubscribed”, or “four times oversubscribed” as Draghi and his entourage ‘guaranteed’ to keep everything profitable – whatever it takes. Well, things have gone a little disastrous in the last few days as Irish and Belgian ‘century’ bonds, Austria 70 year, Italian and Spanish 50 year bond prices are collapsing.