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| Source: Bloomberg |
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| Source: Bloomberg |
Successful investing warrants a person to either be lucky or good. Which one are you?
Monday, July 23, 2012
Spain - 2 year yields at 6.5%
Something that may have gotten lost in the news flow today. We have 10 year yields reach unsustainable levels, reports of a short selling ban, and 2Q GDP slump 0.4%. What you may have not seen is the 2 year yields reach 6.5%. The yield curve has flattened significantly and at this rate, Spain will be shut out of the bond market soon. Tomorrow's bill auctions in Spain will be a true test of the market's appetite for Spanish debt.