Note the big move down in Italy and Spain’s bond yields.
LONDON, Jan 10 (Reuters) – Spain’s benchmark bond yields fell to 10-month lows on Thursday after Madrid kicked off its challenging 2013 funding programme with a strongly bid auction of mostly two-year debt.
And this on the move up in core rates,
FRANKFURT—A united European Central Bank sent a strong signal that it is unlikely to cut interest rates despite economic contraction and record unemployment, suggesting the euro-zone economy must find its own footing without additional help from the central bank.
At his monthly news conference, ECB President Mario Draghi stopped short of declaring an end to the euro bloc’s three-year-old debt crisis or even that the worst has passed, saying “it’s too early” to claim success or weigh an exit from its lending to banks and other existing policies.
“We are now back in…
View original post 29 more words