The three-year European bank lending program, dubbed the 'back-door bazooka', quantitative easing, continues to buoy global equities markets. The European 10-year yields are calm as the Christmas holiday nears but Italy remains near the 7% level. Keep watching Italy 7%, Spain 6% and France 3.3% levels which will indicate serious stress.
10-Year Yields:
Greece 35.94%
Portugal 13.13%
Italy 6.76%
Spain 5.33%
Belgium 4.38%
France 3.13%
U.K. 2.07%
Germany 1.98%
U.S. 1.97%
Note Added 12/22/11 at 8:51 AM: Italy now 6.82%, only 18 bips from 7%. Spain 5.35%. France 3.09%.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.