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Weekly Eurozone Watch: Spain at 6.0%, Greece Blows Out

Posted By Global Macro Monitor On May 11, 2012 @ 4:00 pm In Think Tank | Comments Disabled

Eurozone Watch:

 

Key data points:
German 10-year Bund new weekly closing low at 1.516 percent;
Spain 10-year wider by 34 bps, first 2012 weekly close over 6.0 percent;
Italy 10-year 14 bps wider;
Greece 10-year blows out 425 bps on the week;
Banks x/France bounce from last week’s rout;
Euro Currency falls 1 percent against dollar;

Comment:  The key question now for global markets is Greece an “indicator species [1]‘ of a widerl debt/political problem or just a one off?  The answer will determine the direction of the global markets for the rest of the year, in our opinion.

 

[2] [3] [4] [5] [6] [7]


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2012/05/weekly-eurozone-watch-spain-at-6-0-greece-blows-out/

URLs in this post:

[1] indicator species: http://en.wikipedia.org/wiki/Indicator_species

[2] Image: http://macromon.files.wordpress.com/2012/05/wezr_spread_week1.jpg

[3] Image: http://macromon.files.wordpress.com/2012/05/wezr_bank_week1.jpg

[4] Image: http://macromon.files.wordpress.com/2012/05/wezr_spread_ytd1.jpg

[5] Image: http://macromon.files.wordpress.com/2012/05/wezr_bank_ytd1.jpg

[6] Image: http://macromon.files.wordpress.com/2012/05/wezr_yields1.jpg

[7] Image: http://macromon.files.wordpress.com/2012/05/wezr_eurocurrency2.jpg

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