The trading week begins with a look at European bond yields. The Greece talks remain a joke. Each day deadlines shift to future days. Obviously there are snags, otherwise, the situation would be resolved. The U.S. futures markets are weaker, in line with the weaker euro as would be expected, so perhaps patience is running out with this laissez-faire Euro approach to serious issues. Eurozone banks are down over 1% this morning.
10-Year Yields:
Greece 34.30%
Portugal 13.40%
Hungary 8.70%
Italy 5.65%
Spain 4.99%
Australia 3.84%
Belgium 3.53%
France 2.85%
U.K. 2.14%
U.S. 1.92%
Germany 1.89%
Greece is moving up to prior high levels reflecting the height of recent turmoil. Watch Hungary this week. Italy now remaining under 6%. Spain is under 5%. France is under 3%. The Australia 10-year yield is provided for comparison. Australia yield is creeping up each day the last few days and on par with Belgium rates. The RBA (Reserve Bank of Australia) decision is later today (Keystone thought that was ocurring overnight last night but it is tonight), and retail sales data is weak down under. Lots of currency, commodity and miner action is projected for this week with the RBA, BOE and ECB rate decisions as well as China CPI data on tap. RBA will kick things off later today.
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