European Bond Yield Summary 3/29/12

10-Year Yields:
Greece 20.29%
Portugal 11.23%
Hungary 8.93%
Spain 5.35%
Italy 5.10%
Belgium 3.42%
France 2.95
Netherlands 2.41%
U.S. 2.22%
U.K. 2.20%
Germany 1.84%

Spain general strike begins with workers protesting austerity measures. The Spain unemployment rate is 23% and about 50% for the young people. Greece will have to restructure again according to S&P rating agency.  China earnings disappoint and dampen Asian markets; growth is clearly slowing.  Europe is China's number one customer. Italy bond auction is going off right now. Italy yield is flat to up over the last day.  Spain yield jumped five basis points since yesterday now at 5.35%.  Hungary continues to blow out towards 9%. France is managing to stay under 3%.

Note that the U.S. yield has popped above the U.K. yield so traders are actually preferring U.K. debt as compared to U.S. debt.  Germany is well under 1.84% indicating that money continues to flow into this perceived safe haven country, the strongest economy in Europe.