10-Year Bond Yields:
Greece 22.29%
Portugal 12.59%
Hungary 9.04%
Spain 5.89%
Italy 5.56%
Belgium 3.48%
France 2.99%
Netherlands 2.26%
Finland 2.12%
U.K. 2.03%
U.S. 2.00%
Germany 1.76%
The top grouping continues to receive pressure. Spain and Italy were the big stories yesterday as the Spain 10-year moved over 6%, now retracing to 5.89%. Both Spain and Italy remain higher than 24 hours ago, but lower than the intraday spikes. Italy and Germany bond sales are minutes away. Keep your eye on the ball, however, Portugal and Hungary are the major concerns in the near term. The lower grouping shows the countries that are viewed as safer havens. Germany has moved up from the low 1.71% prints yesterday. More bailouts will be needed for Greece and Portugal, with Hungary and Spain now lining up at the table as well. Rumors are circulating that Spain, the IMF and E.U. are already in talks behind the scenes.
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