European Bond Yields

Things are settling down for the time being. The three-year loan program is receiving lots of positive media attention. Yields are drifting lower (price higher).

10-Year Yields:
Italy 6.62%
Spain 5.09%
Belgium 4.25%
France 3.08%
U.K. 2.11%
Germany 2.03%
U.S. 1.94%

The Spanish auctions yesterday are credited for helping create some of the positive global market vibe. The Spain 10-year yield now close to falling under 5%. France inches down towards 3%. The U.S. climbed from the 1.80's yesterday to back above 1.94%, but still under 2% indicating that the U.S. disinflation remains a concern.

Note Added 12/21/11 at 8:03 AM EST:  U.S. futures eliminated their gains. European yields are now creeping upwards, the luster disappearing off the rose. 10-year yields: Italy 6.85%; Spain 5.27%; Belgium 4.34%; France 3.11%; Germany 1.93%.  Note that Italy is moving towards the 7% alert signal again. Germany yields are dropping, which means price is up as traders seek safety in Germany.