European Bond Yields 2/9/12

The European 10-year yields remain somewhat calm as the Greece drama continues along. The BOE rate decision occurs in a couple hours and then the ECB rate decision and press coference follows after that.  Portugal 10-year yield is 13.52% moving flat.  Hungary woes were fixed by the ECB over the last couple weeks with the 10-year yield at 8.31% now.  Italy is using the 5.65% level as a base and stubbornly refuses to drop lower.  Spain has taken the biggest move up in the 10-year, rising 33 basis points in the last 48 hours, now at 5.37%. Pressure is obviously being felt in Italy and Spain due to the ongoing Greek saga. Belgium has jumped as well to 3.60%.

Also of interest, in the land down under, is that Australia's 10-year has jumped 20 basis points in the last three days, now over the 4% level.