Peripheral Spreads

June 14th, 2016 5:23 am | by John Jansen |

Fear has once again gripped markets with peripheral spreads melting down. As I noted at this hour yesterday I follow Italy and Spain in the 10 year sector versus US to gauge sentiment. By that metric markets are less than festive this morning. Last Thursday morning I had clocked 10 year Spain versus US at 29 basis points (Spain rich to US). That traded at 15 basis points at this time yesterday and rests at 5 basis points today. There has been a similar move in Italy. Last Thursday that spread as 40 basis points and yesterday it sat at 28 basis points. This morning that spread is 16 basis points.

 

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  1. 5 Responses to “Peripheral Spreads”

  2. By Tyler_K on Jun 14, 2016 | Reply

    And but a few hours later, that richness continues to evapourate

  3. By John Jansen on Jun 14, 2016 | Reply

    Sort of amazing that Italy and Spain could trade rich to US.

  4. By Gee on Jun 14, 2016 | Reply

    Backstop! Draghi own goal! For the win!

  5. By Tyler_K on Jun 14, 2016 | Reply

    Yeah, that’s a little mind boggling … though, with the ECB willing to buy even my mortgaged Vermont and Baltic Avenue Monopoly paper, its probably not

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