by Bill McBride on 7/11/2011 08:35:00 AM
Monday, July 11, 2011
This doesn't look good ... (see table below).
The Greek 2 year yield is up to a record 31.1%.
The Portuguese 2 year yield is up to a record 18.3%.
The Irish 2 year yield is up to a record 18.1%.
And the big jump ... the Italian 2 year yield is up to a record 4.1%. Still much lower than Greece, Portugal and Ireland, but rising.
From the Telegraph: Italy debt contagion fears hit markets as top EU officials meet
Herman Van Rompuy, the president of the European Council, will meet European Central Bank President Jean-Claude Trichet and Jean-Claude Juncker, the chairman of the Eurogroup, for talks in Brussels at around midday, ahead of a meeting of the 17 euro zone finance ministers later on Monday.Here are the links for bond yields for several countries (source: Bloomberg):
Mr Van Rompuy's spokesman described the gathering as a "coordination, not a crisis meeting". He added that Italy would not be on the agenda, as ministers focused on thrashing out terms of a second Greek rescue package.
The meeting comes as the Financial Times reported that leaders are prepared to accept that Athens should default on some of its bonds.
|Greece||2 Year||5 Year||10 Year|
|Portugal||2 Year||5 Year||10 Year|
|Ireland||2 Year||5 Year||10 Year|
|Spain||2 Year||5 Year||10 Year|
|Italy||2 Year||5 Year||10 Year|
|Belgium||2 Year||5 Year||10 Year|
|France||2 Year||5 Year||10 Year|
|Germany||2 Year||5 Year||10 Year|