Spanish Government Bonds Hit 6% Again; Yields Climb in Italy

With most eyes focused on the smoke and mirrors debt ceiling fiasco in the US, inquiring minds note that sovereign debt yields in Europe are once again climbing with 10-Year Spanish government bonds touching 6% once again.

Spain 10-Year Government Bonds



Bloomberg Quote: Spain

Italy 10-Year Government Bonds



Bloomberg Quote: Italy

Note that Bloomberg's charts do not match the quotes, so go by the quotes, not the charts.

Lower yields on Greece, Portugal, and Ireland are meaningless if they head higher on Spain and Italy. That Spain is back above 6% already and Italy headed there is significant.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

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