European Bond Yields 3/2/12

The Greece 10-year yield continues to blow out, now almost 200 basis points since yesterday at this time, now printing 37.76%, moving towards a ridiculous 40%. Portugal, the 900-pound gorilla in the room that everyone ignores, increases another 5 basis points over the last day to 13.78%. The round numbers gain attention so perhaps when it crosses 14% folks will take notice.  The other European yields are all behaving themselves after the LTRO2 news. All yields are flat or lower, Hungary has moved lower to 8.40%. Italy and Spain 10-year yields are under 5% now;  Italy is 4.97% and Spain 4.89%. Spain moving down towards 4.90% matches 2008 numbers.

In the land down under, Australia 10-year yields jumped 8 basis points since yesterday now at 4.12%.