Tuesday, November 23, 2010

Crisis Focus Turns to Spain

Interest rate spreads for Spain debt versus German bunds has reached record high. This is occurring, it should be noted when German rates, themselves, are climbing. The spread is up 230 basis points, according to ZH. Up 22 on the day. Not pretty. Expect EU/IMF financial shock troops in the heart of Spain any day now.

By the end of the year, you could have very unhappy natives in Greece, Ireland, Portugal and Spain. Stability, thy name is not EU.

No comments:

Post a Comment