by Calculated Risk on 11/01/2011 08:38:00 AM

Some European bond yields are rising sharply ...

From the Financial Times: Referendum call sparks fears over Greek bail-out

The premier also raised the stakes by announcing a parliamentary vote of confidence ... The debate ... will start on Wednesday with a vote set for midnight on Friday.
excerpt with permission

From the WSJ: Greek Vote Threatens Bailout

A "yes" vote in the referendum could deflate the massive street protests and strikes that threaten to paralyze Greece as it tries to enact a brutal austerity program to earn rescue loans from the euro zone and the International Monetary Fund.

A "no" vote, however, could bring down the government and cut off international funding for Greece, leaving the country facing a financial meltdown. The government expects to hold the referendum in January.

The Greek 2 year yield is up to 84.2% (up from 77.7% yesterday) The Greek 1 year yield is up to 194% (from 158%).

The Portuguese 2 year yield is up to 19.6% (from 18.3% yesterday) and the Irish 2 year yield is up to 9.3% (from 8.8%).

The Spanish 10 year yield is at 5.6% and the Italian 10 year yield is up to 6.3% (from 6.1%).

The Belgian 10 year yield is at 4.4% and the French 10 year yield is down to 3.0%.