Earlier today Italy sold 7.5bn Euros of 361 day bonds yielding 2.697%, and with it Italian and Spanish debt were both trading higher. Since then we have seen a reversal with yields now creeping higher on the session, Italian 10 year yields are testing the 6.85% level. No specific news out but growth concerns continue to intensify, with it we have just seen the EURUSD pair test and break the 1.22 level and with it risk off in commodities and equities.

 

Posted by Philip Ball | Sales and Trading