Things aren't improving in a straight line in Europe, but progress is being made.
Yields on short-term peripheral debt continue to fall markedly.
For the first time since last March, yields on Spanish 2-year debt have fallen below 3%.
Here's a 1-year look at the Spanish 2-year via Bloomberg (note it doesn't have today's move).
And here's the Intraday look...
It's a very similar story with short-term Italian debt. Major improvement.
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See Also:
- European Retail Sales: Ugly
- Meanwhile, Spain's Unemployment Rate Jumped To 22.9%
- The European Debt Crisis: Still A Major Problem With Global Implications