European Bond Yields 12/14/11

10-Year Yields:
Italy 6.68%
Spain 5.69%
Belgium 4.44%
France 3.23%
U.K. 2.14%
Germany 2.02%
U.S. 1.98%

Yields are behaving themselves, Italy not yet above 7%, Spain staying under 6% and France is moderating and dropping back from the 3.3's yesterday. Italy 5 year auction occurs this morning and its yield is expected to rise a few bips. Yesterday, U.S. and Germany were the same yield. As U.S. investors sold equities in yesteday's trading session, some of that money flowed into the perceived safety of Treasuries, moving the U.S. 10-year yield under 2%.