Bonds: Eurozone yields edge up

Date: Wednesday 04 Jan 2012

These were the yields on the benchmark 10-year bonds of some of the most watched countries at 6pm GMT:

Italy: 6.94% (+2 basis points)
Spain: 5.43% (+15bp)
France: 3.31% (+2.5bp)
Germany 1.92% (+2.5bp)
U.K. 2.05% (+2bp)
U.S. 2% (+4.9bp)

The main news on the sovereign bond markets today was that a German sale of 10-year debt was over-subscribed. The country’s previous three auctions have been under-subscribed.

Portugal, a recent recipient of bail out money, today sold €1bn in 3 month bills, at the top of its Treasury´s issuance target.

Fears that the Italian bank Unicredit and the Spanish bank Santander may struggle to met new capital requirements could place further strain on their respective governments.

Today, the Spanish magazine Expansion suggested the Spanish Treasury may be forced to seek help to re-capitalise its banks from the European bail out fund known as the EFSF.

BS

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