European Bond Yield Summary 5/18/12

10-Year Yields:
Greece 29.20%
Portugal 12.07%
Hungary 8.49%
Spain 6.22%
Italy 5.74%
Belgium 3.29%
France 2.82%
Austria 2.47%

Netherlands 1.89%
U.K. 1.84%
Finland 1.74%
U.S. 1.73%
Germany 1.42%

Moody downgrades the Spanish banks and Fitch downgrades Greece. Spain may place a ban on short selling the banks which has stabilized the futures markets. Desperate measures for desperate times. Spain yield remains well over the danger level of 6%. Spain bank deposits contininue to decrease and the bad bank loan ratio's continues to rise. G-8 leaders assemble for a weekend meeting. As everyone watches Spain and Greece, no one noticed that Portugal has blown out over 12% and Hungary is at 8.5%.  Italy remains under the important 6% level. Greece elections are set for 6/17/12 but it is generally accepted that they will exit the Euro union, it is only a matter of whether it will be orderly or disorderly and the elections will provide clarity in four weeks.

For the safer haven countries, Germany continues to print historic lows at 1.42%. The U.S. is printing historic numbers as well dipping under 1.70% in yesterday's trade.