Yields on 10-year Spanish debt are lower by nearly 8 bp in afternoon European trade despite no movement on the part of Spain to seek an EU bailout. The yield stands at 5.70%. With much of Spain’s 2012 funding needs complete, a bailout may have to wait for the new year.
EUR/JPY is enjoying a pop in thin trade with mild risk-assumption the market backdrop today. Stocks, commodities and bond yields in the US are all up slightly in the day.
