There has been some political turbulence in Spain and Italy of late. This turbulence may have translated into interest rate increases in 10 year government bonds today, with a one day 23 and 14 basis point move (23/10,000 and 14/10,000) respectively. This results in annual yields of 5.44% and 4.47%, again respectively, and can be compared to yields of 0.76% in Switzerland and 10.92% in Greece. Preparatory work continues on European and Asian Free Trade Agreements however, so I am keeping the faith.
Meanwhile, on this side of the pond/back at the ranch, ISM and January BLS Non Farm Payroll numbers have been of interest as has the DOJ lawsuit against the S&P.
- Bloomberg 10 year Government Bond Yields, http://www.bloomberg.com/markets/rates-bonds/
- Spanish Leader Pledges Transparency Amid Corruption Inquiry, By RAPHAEL MINDER, Published: February 2, 2013, NYT, http://www.nytimes.com/2013/02/03/wo...ef=europe&_r=0
- Italian Banks Fall as Politics Spreads Uncertainty: Milan Mover, By Sonia Sirletti & Francesca Cinelli - Feb 4, 2013 4:55 AM MT, Bloomberg News http://www.bloomberg.com/news/2013-0...lan-mover.html
- Basis point, From Wikipedia, the free encyclopedia, http://en.wikipedia.org/wiki/Basis_point
- Obama puts trade at heart of agenda, By Richard McGregor in Washington, February 4, 2013 5:56 pm, Financial Times, www.ft.com
- Institute for Supply Management, http://www.ism.ws/ismreport/mfgrob.cfm
- Bureau of Labor Statistics, http://www.bls.gov/news.release/empsit.nr0.htm
- Reports: U.S. Plans To Sue S&P Over Mortgage Bonds Ratings, by EYDER PERALTA, February 04, 2013 2:40 PM, NPR http://www.npr.org/blogs/thetwo-way/...-bonds-ratings
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