European Bond Yields 2/2/12

Spain and France auctions go off without a hitch this morning, a vast diffference to the concern from only a month or two ago. The Spain 10-year yield, however, is moving flat at 4.89%. France remains above 3% so the Euro woes continue. The bond auctions over the last two weeks, however, have helped to build some condidence and create calm.

Italy remains under 6%. Portugal 10-year yield has come down to 15.24%. On Tuesday it was over 17%. Yesterday, a Fitch rating agency representative mentioned that he sees Portugal to be of no threat to the euro.

Of interest is that Hungary is hanging flat at 8.88%, and remains elevated, not dropping the last couple days like its Portugal and Italy brethern.  Hungary requires monitoring moving forward.