European Bond Yield Summary 8/3/12

10-Year Yields:
Portugal 25.84%
Spain 7.14%
Italy 6.15%
Belgium 2.51%
France 2.01%
Austria 1.84%
Netherlands 1.59%
U.S. 1.49%
U.K. 1.46%
Finland 1.39%
Germany 1.29%

The yields are on the move higher again after Draghi's inaction yesterday. Spain is back above 7% and Italy is above 6%, near the levels prior to the Draghi promises.  France continues to hug the 2% level. Use that as a gauge moving forward; above 2% signals Eurozone debt crisis tensions increasing while under 2% shows calm in the markets. Note how Finland yields are now under both the U.S and the U.K.  The Spain-Germany and Italy-Germany spreads remain elevated signaling continued tumoil for Spain and Italy moving forward.