European Bond Yields 11-22-11

Spanish auctions going off currently. Spain 10-year yield is 6.59%. Italy 10-year 6.64%. France 10-year 3.48%. Netherlands 10-year 2.53%. Germany 10-year 1.93%. U.S. 10-year 1.96%. Keep watching the 7% levels and the relationships (spreads) between the European nations. The France 10-year yield average over the last ten years is 3.9%, thus, some comfort is provided with yield remaining below this level.

Note Added 11/22/11 at 5:58 AM EST: Italy's spread between the 2's and 10's now shows an inverted yield curve indicating recession.

Note Added 11/22/11 at 6:04 AM EST: 10-year current prints; Italy 6.728%; Spain 6.624%; France 3.534%; Germany 1.931%; U.S. 1.98%.

Note Added 11/22/11 at 9:04 AM EST: Spain 10-year is now at 6.652%.

Note Added 11/22/11 at 10:52 AM EST: Spain's 2's and 10's zero in on a potential inverted yield curve. 2-year = 5.92%; 10-year = 6.64%