Date: Tuesday 19 Jun 2012
These were the yields and movements on some of the most watched 10 year bonds by the close in Europe:
Spain: 7.04% (-12bp)
Italy: 5.92% (-17bp)
France: 2.65% (+4bp)
Germany: 1.53% (+12bp)
UK: 1.72% (+6bp)
US: 1.61% (+3bp)
Spain completed a bond auction as yields on under pressure euro area countries fell
Spain sold €3.04bn in bonds at 12 month and 18 month maturities Demand was higher than at a similar auction last month but the yields were also much higher: 5.074% for the 12 month notes, 2.1% higher than in May.
But generally the perception of risk reduced as Germany came under pressure at the G20 conference in Mexico to allow the European Central Bank to intervene directly in the ongoing sovereign debt crisis.
In Greece, statements from the leaders of the Democratic Left and Pasok parties have suggested they are close to forming a national “salvation” government with New Democracy - this also had a calming effect.
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