IFA Magazine

For today's discerning financial
and investment professional

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

These were the yields and basis point movements of some of the most watched 10 year bonds just before the close in Europe:

Spain: 6.74% (-11bp)
Italy: 6.00% (-4bp)
France: 2.10% (-1bp)
Germany: 1.40% (-3bp)
UK: 1.50% (-6bp)
USA: 1.55% (-1bp)

The bonds of the under-pressure Eurozone nations, Italy and Spain, rose on Monday, as the shape of an aid scheme for both nations became clearer.

The European Central Bank has already indicated it is willing to fund direct purchases of Spanish and Italian short term debt in the secondary market, or at least allow the bailout fund known as the EFSF, to do so. Today the German government said it believed such an action would be within the mandate of the ECB.

In response the market has been buying Italian and Spanish securities of up to three year maturities, pushing the yields down. Italian three year bond yields dropped 15 basis points to 3.87%, Spanish equivalents fell a whopping 49 basis points to 4.52%.

The question now is whether either nation is willing to get down on bended knee and actually ask for assistance. Such a move is fraught with difficulties because ‘help’ usually comes with strings attached, strings that have so far not done Portugal, Greece or Ireland any favours.

Nevertheless, with borrowing rates still cripplingly high for the Italian and Spanish governments, the market suspects the moment of supplication is getting closer.

BS

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