European Bond Yield Summary 4/24/12

10-Year Yields:
Greece 21.53%
Portugal 11.54%
Hungary 8.89%
Spain 5.94%
Italy 5.76%
Belgium 3.47%
France 3.07%
Netherlands 2.36%

Finland 2.16%
U.K. 2.14%
U.S. 1.94%
Germany 1.67%

Spain, Italy and Netherlands auctions occur this morning without a hitch and the bond markets settle down from yesterday's excitement.  Spain pulled back under 6% for now.  Watch the 6.3 to 6.4% range as the trigger for the ECB to intervene and for global markets to become worrisome.  Thus, for Spain, stage one danger is moving over 6%, stage two and serious danger requiring ECB help is from 6.3% and higher. Moody's says Netherlands triple A is not in danger so this helped calm markets as well. France remains nervous with a 10-year yield at 3.07%.