GLOBAL RALLY CONTINUES: European Yields Continue To Tank
We're going to need to come up with some special name for this new global rally that's seemingly impervious to negative headlines.
The downgrades (both of individual sovereigns and of the EFSF) and the mess in Greece is nothing for investors.
Most notably, yields in Europe continue to sink.
The Italian 10-year bond is yielding less
than 6.5% again.
2-year Spanish debt yields less than
2.9%.
As for data, there isn't too much
notable, except Chinese GDP -- it came in at 8.9%,
topping expectations of 8.7%.
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