European Bond Yields 2/17/12

Greece 10-year yields jump 75 basis points over the last day, now at 34%. Portugal jumps 25 bips since yesterday to 12.23%. Hungary jumps 25 bips as well to 8.50%. Everytime the Hungary yield is sent lower it bounces higher again like trying to keep a beach ball under water.  Italy and Spain yields move down about 20 bips since yesterday so that hints at where the ECB is acting.

Also of interest is the countries where money is seeking safety, Germany, U.K. and U.S., which see a jump in yields of about 10 bips from yesterday due to traders running to the risk-on trade and moving money from the bonds and notes into the stock market.  The yields of these three countries remain low at 1.90%, 2.17% and 2.00%, respectively, reflecting their safe haven status.  Watch Portugal and Hungary.