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Wednesday, November 23, 2011 2:20 AM


2-Year Italian Bond Yield Hits 7.27%, Yield Curve Inverts; Italy, Belgium, Spanish Bonds Smacked


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Sovereign debt yields and spreads are under renewed pressure today in Italy, Belgium, and Spain.

Sovereign Debt Table 10-Year Bonds

CountryChangeYieldSpread
Germany+.021.930.00
France+.043.571.64
Spain+.016.614.68
Italy+.066.884.95
Portugal-.0211.289.35
Belgium+.065.143.21
Ireland+.478.216.28

Sovereign Debt Table 2-Year Bonds
CountryChangeYieldSpread
Germany-.010.380.00
France+.061.781.40
Spain+.085.835.45
Italy+.077.066.68
Portugal-.3514.6314.25
Belgium+.104.394.01
Ireland+.028.388.00

Note the inverted yield curve for Italy and Belgium.

Italian 2-year bonds were smacked hard today, opening at 7.27% before calming down to 7.06%. The 10-year yield opened at 6.85 and surged to 6.98 before calming down to 6.88%. 2-year Italian bonds are not only above 7%, but also yield more than 10-year bonds.

Note: At 4:13 ET 2-Year Italian bonds are back up to 7.21%, and climbing way faster than 10-Yr bonds at 6.91%

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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