Spain and France auctions this morning went off without a hitch a short time ago. Yields are rising slightly for Spain and Italy today but France is hanging in there sideways. Of special note is that Portugal yields keep climbing each day receiving little attention. Portugal will be needing additional help perhaps a lot faster than everyone thinks.
10-Year Yields:
Greece 33.53%
Portugal 14.52%
Italy 6.43%
Spain 5.22%
France 3.11%
U.K. 1.98%
U.S. 1.89%
Germany 1.80%
Portugal was 13.58% to start this week, about 100 basis points lower. Spain and France are flat on the week while Italy yields are creeping lower this week, now under the 6.50% level.
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