Spain 10-Year Yield
Italy 10-Year Yield
Portugal 10-Year Yield
Charts courtesy of Bloomberg.
In the absence of another huge LTRO program from the ECB, and perhaps even with another LTRO program, yields in Spain, Portugal and Italy should head North. The LTRO is not going to trump long-term fundamentals which are downright horrible.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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