European Bond Yield Summary 3/27/13

Big changes over the last 24 hours. Greece has blown up through 12% again jumping 62 basis points over the last day, over one-half percent, to print 12.49%. Portugal is above 6% and running higher, up 13 basis points over the last day to 6.24%.  Spain is back over the psychological 5% level. Italy may need new elections; the yield jumps 14 bips overnight to 4.68%. If Italy moves above 5%, Europe will become more tense.

10-Year Yields:
Greece 12.49%
Portugal 6.24%
Spain 5.02%
Italy 4.68%

France 2.02%
U.S. 1.88%
Netherlands 1.77%
U.K. 1.74%
Austria 1.67%
Finland 1.54%
Germany 1.30%
Japan 0.52% (record-setting lows)

The safer haven nations all see drops in their yields over the last 24 hours as money seeks perceived safety. Germany dropped 5 bips overnight to 1.30% and briefly dropped down to 1.29% a few minutes ago. The U.K. yield drops to 1.74% from 1.82% yesterday. Money is seeking all the safer haven nations with Germany and the U.K receiving a larger portion. The U.S. 10-year Treasury dropped through 1.90% about an hour ago, now at 1.88% as money seeks safety on this side of the pond as well.  Big changes are occurring, watch the four troubled nations at the top of the list moving forward.

Note Added 3/27/13 at 6:26 AM:  Big flight to safety occurring. The U.S. 10-year dropping like a stone now at 1.86%. The euro falls through 1.28. S&P futures -5 dropping in concert with the falling yields.