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So much for the Spanish bailout… Their 10 year bond yields are heading back up towards 7% and Italian 10year bonds are over 6% and trending up.
The half life of any temporary bailout appears to be getting shorter and shorter…not that European equity markets care too much…they’re up a little bit at the moment. Obviously if these yields continue there’ll have to be more bailouts and I’m afraid there is no endless money supply from the troika. No doubt thee bank runs will continue across all of the peripheral countries…mmmm…not too sure when these problems will end or how it will end.