Today's Coming Crisis Movie

Thursday, November 17, 2011

Eurozone bond yields continue to climb with the exception of Germany - 17th Nov 2011

European bond yields climbed again Thursday -- with the exception of the yield of Germany, the bastion of stability in the eurozone -- despite the European Central Bank's repeated bond-buying sprees.

Italy's key bond yield moved up again to above 7%, a benchmark that prompts traders to nervously contemplate the specter of another bailout.

The European Central Bank has been regularly snapping up bonds to try and bring some stability to the market. But yields for most eurozone countries keep going up anyway, fueling fears on Wall Street of a European contagion.

On Thursday, the ECB bought up Spanish and French bonds, according to Deutsche Bank analyst Colin Tan.

Europe's credit crunch fears are growing

Spanish bond yields were trading at 6.75%, managing to stay below 7%, the level that Greek, Irish and Portuguese bond yields exceeded before those countries required bailouts from their European neighbors.

French bond yields were also moving up, but the yield managed to maintain a relatively low level, of 3.79%. Read More