European Bond Yield Summary 4/9/12

10-Year Yields:
Greece 21.80%
Portugal 12.24%
Hungary 9.04%
Spain 5.76%
Italy 5.45%
Belgium 3.43%
France 2.99%
Netherlands 2.30%
U.K. 2.16%
U.S. 2.06%
Germany 1.74%

Greece continues to blow out towards 22%. The Portugal situation is worsening each day, the 10-year yield is now up 100 basis points in the last nine days to 12.24%, now well over 12% and headed higher. Hungary is above 9%. Spain and Italy are higher as compared to last week as well, but only by a couple basis points. France sits at that 3% level.

The Portugal yields for the 2's thru the 30's are all higher as compared to last week. Ditto for Spain and Italy. The Portugal yields curve remain inverted from the 5's thru the 30's.

The perceived safer haven countries are all falling in yield reflecting the move to safety. Germany is at a low 1.74%. The U.S. will likely drop back below 2%, the traders calling for an end to the long bond rally wrong again. Traders have been looking for inflation since QE1 in 2009 but with the CRB (commodiites) falling towards 300 and perhaps much lower, as well as the 10-year U.S. yield falling under 2% is a move towards disinflation is occurring and inflation remains a non-issue.