Today is the last trading day in front of the Christmas holiday. Germany 2-year yields are moving towards historic lows showing that money continues to move into the perceived safety play.
10-Year Yields:
Italy 6.89%
Spain 5.37%
Belgium 4.16%
France 3.04%
U.K. 2.02%
U.S. 1.96%
Germany 1.93%
Italy remains elevated now only 11 bips from 7%. France now moving back towards 3%. Germany yield remains under 2% reflecting the move to safety.
Note Added 12/23/11 at 5:53 AM EST: U.K. 10-year just dipped under 2% to 1.99%. Money is clearly moving towards Germany and the U.K.
Note Added 12/23/11 at 3:32 PM EST: Italy went over 7% today, last print 6.98%. All is not well.
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