By now, everyone knows that “Greece is Saved” even though 2-year government bonds are trading today at 28.3%, up from 26.62% at the open.
Let’s turn our attention away from Greece to the “Not Saved Yet” group of countries including Spain, Portugal, Ireland, and the big Kahuna, Italy.
Portugal 10-Year Government Bonds – 13.05%
Ireland 10-Year Government Bonds – 12.43%
Greece 10-Year Government Bonds – 16.82%
Italy 10-Year Government Bonds – 5.12%
Please note that 10-year yields in Italy are now approaching 10-year yields in Spain.
Also note that yields are not up across the board in Europe.
Germany 10-Year Government Bonds – 2.93%
|Country||Yield||Change||New High||Saved||Spread to Germany|
I don’t know about you, but I am sure glad “Greece is Saved”. I look for equally impressive results when Portugal, Ireland, Spain, and Italy are “saved”.
Mike “Mish” Shedlock
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