Eurozone sovereign debt yields pushed higher across the board today. Irish debt has topped 12% for the first time, Italian debt topped 5% and most Euroland debt yields are at all times high spreads compared to Germany.
Significantly, yields are at fresh new highs for Spain, Italy, Ireland and Portugal.
If by any chance you are wondering whether to believe EU officials or the bond markets, I suggest you believe the bond markets.
The charts below are delayed, but the quotes are accurate. Stress increases in Eurozone.
Spain 10-Year Government Bond Yield
Portugal 10-Year Government Bond Yield
Italy 10-Year Government Bond Yield
Ireland 10-Year Government Bond Yield
Greece 10-Year Government Bond Yield
Greece 2-Year Government Bond Yield
If EU and ECB officials thought they solved something with their Greek bailout maneuvers, the bond market disagrees and so do I.
Mike “Mish” Shedlock
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