European Bond Yield Summary 5/16/12

10-Year Yields:
Greece 29.98%
Portugal 11.64%
Hungary 8.22%
Spain 6.39%
Italy 5.91%
Belgium 3.29%
France 2.91%
Austria 2.55%

Netherlands 1.98%
U.K. 1.89%
Finland 1.81%
U.S. 1.76%
Germany 1.46%

Greece printed over 30%; the country crumbles.  Portugal jumps 60 basis points in the last two days moving up towards 12%.  Spain is on its way to 6.5% gaining about 20 bips in the last couple days. Italy jumps about 30 bips since Monday now knocking on the 6% door again. France remains under 3%.

For the perceived safer haven countries, the Netherlands drops under 2% to join the club. U.K. is printing record low yields. The U.S. and Germany obviously perceived as the safest place to stash cash. The commodities markets have lost all the 2012 gains.  Silver prints the low for the year. Gold is now in a bear market falling over 20% off the top. Rubber is at a four-month low indicating a slowing global growth environment. European stock markets have given up the 2012 gains for the most part; the DAX an exception. The Greece stock market is now at levels last seen in 1992, 20 years ago. The Spain-Germany spread is 493 and the Italy-Germany spread is 445.