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01-06-2011, 10:04 PM #1
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Portuguese, Spanish Bonds Smacked on Sovereign Debt Financin
Thursday, January 06, 2011 2:19 PM
Portuguese, Spanish Bonds Smacked on Sovereign Debt Financing Concerns; Euro Flirts with December and Mid-September Lows
Portuguese and Spanish 10-year bonds are getting smacked hard as refinancing needs mount. Greek yields are at all-time highs and a milder (for now) selloff continues on Belgian and Italian bonds as well. A flight to safety on German bonds is again in play, with German 10-year yields dropping slightly. The Euro once again flirts with December and Mid-September lows.
Bloomberg reports Portuguese, Spanish Bonds Decline Amid Debt-Auction Speculation http://noir.bloomberg.com/apps/news?pid ... gPZXOZ5WLY
The extra yield investors demand to hold Portuguese securities rather than benchmark German bunds widened to the most in a month as the IGCP debt office announced the sale of 2014 and 2020 debt, scheduled for Jan. 12. Belgian bonds tumbled after the nation’s political leaders failed to restart seven- party negotiations to form a government. German bunds rose.
“The underlying story behind this slide in Portuguese government bonds is supply-related,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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