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Greece aside for a moment, the dumping of peripheral debt continues aggressively this morning.The yield on Portuguese 2-year debt is up to 14.547%.
Ireland is closing in on 14% itself.
And if you’re going to watch one thing, it should perhaps be Spanish 2-year debt, which really hasn’t blown out yet.
But Spain has become the big fear of the Eurozone, since outside of Greece, it’s the one PIIGS country that’s still exposed to the market.
Its short-term yields have been creeping up., but still aren’t even where they were in November.
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