European Bond Yields 12/12/11

Friday's E.U. Summit creates a weekend party but the hangover hits on Monday morning.  Clegg and Cameron are at odds in the U.K.; Clegg concerned about isolation.  Germany opposes more ECB bond buying. Moody's says what occurred at the summit does not help the ratings for the Euro nations, code speak for 'get ready for some coming downgrades'.


European 10-Year Bond Yields:
Italy 6.57%
Spain 5.90%
Belgium 4.63%
France 3.28%
Germany 2.07%
U.K. 2.10%
U.S. 2.03%

Italy is about 40 basis points from 7%. Spain only 10 bips away from the 6% level.  France is inching up, watch the 3.3's which will elevate concern.

Note Added 12/12/11 at 6:11 AM EST:  Italy 10-year is now 6.75%. An almost 20 basis point rise in the last couple hours. France is now 3.30% and Spain just crossed the 6% threshhold now printing 6.01%. Tension and anxiety is increasing. A bell will ring if/when Italy hits 7%.

Note Added 12/12/11 at 7:28 AM EST:  Italy 10-year is now 6.77%. Spain 6.04%. France 3.29%.