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As Bond Markets Twist, Investors Shout
Keywords:
In a complete reversal of the situation in 2012 when Spain's and Italy's bond yields reached about 8%, Spain's 10 year government bond yields declined to 2.579% on June 8, 2014, according to Tradeweb. The ECB's efforts to fight deflation by injecting money into the financial system in 2014, and investor search for higher yields, is driving up the price of Spain's bonds and reducing yields below that of U.S. Treasurys for the first time. The period it took for this to happen- just 2 years!
ECB president Mario Draghi's remarks to calm financial markets on July 23, 2012 as the yield on Spain's government bonds reaches 7.5%
07/26/2012
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
The Draghi Miracle (1)- Italy's and Spain's government bonds within a percentage point of 10 year U.S. Treasury bonds at 2.68% and within 2 points of German bonds at 1.56% in April 2014
04/09/2014
The success of Draghi's effort to lower yields of government bonds of Italy and Spain is seen by April 2014, a condition for recovery programs to work in the two key eurozone countries. The stronger euro has given investors higher yields compared to U.S. Treasury debt. Draghi shows exceptional leadership in the eurozone crisis, and is able to deftly address opposition from the Bundesbank's Jens Weidmann.
Grouped Articles
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Mario Draghi, head of the ECB, and the eurozone crisis with Italian bond yields approaching 8% in Dec. 2011
11/10/2011
Draghi addresses the issue of large scale purchases of bonds of Italy and Spain to ease pressure on bond yields, by leaving open the possibility of action if the EU countries take the necessary steps for a strict budgetary framework.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
The resignations of Jurgen Stark and the ECB's purchase of sovereign bonds of Portugal, Italy and Spain
09/10/2011
The resignations of German representatives on the ECB Executive Board, Axel Weber and Jurgen Stark, over ECB purchases of sovereign bonds. Concern about political risk and financial risk and exceeding the ECB's charter. The need for the governments to assume the critical role of far-reaching reforms of the mechanism for decisions and sanctions.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 09/10/2011
Stark Walked a Fine Line Between German and EU Monetary Cultures
Wall Street Journal 09/10/2011
Risks associated with Spanish and Italian banks increased holdings of government debt in 2012
07/13/2011
Spanish and Italian banks bought a large portion of the goverment bonds of their countries under the Long Term Financing Operation launched by ECB chairman Mario Draghi in Dec. 2011. This calmed the financial markets by lowering the bond yields for Spain and Italy, but raises new risks as analysts focus on the risks of the deficit and declining economy in Spain.
Grouped Articles
Spanish Banks More Vulnerable Than Italy's
Wall Street Journal 07/13/2011
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
Spanish and Italian Banks, Once More Buying Bonds, Seen as Vulnerable
New York Times 04/08/2012
Spain's debt financing and bond issuance in 2012-2013
01/04/2011
An improving situation after Draghi's policy statements on July 23, 2012 about the ECB's committment to the euro and reducing excessive borrowing costs of Italy and Spain.
Grouped Articles
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
Spain Sale Improves Funding Prospects
Wall Street Journal 09/21/2012
Spain- debt, credit ratings, and borrowing costs 2011-2014
01/04/2011
Bond yields for Spanish government bonds in 2011-2014.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Netherlands Loses Triple-A Rating, Spain Outlook Raised
Wall Street Journal 11/30/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
The ECB's Mario Draghi and efforts to overcome the opposition of Jens Weidmann of the Bundesbank to bond buying
10/02/2012
An account of how the ECB's Draghi struggled to ovecome opposition from the Bundesbank to his decision in July 2012 for unlimited bond purchases of sovereign bonds of Italy and Spain to reduce bond yields and borrowing rates on debt. Draghi's famous words at the time were that the ECB would take decisive action: "believe me it will be enough." To do this he had to work closely with Finance minister Schauble and chancellor Merkel of Germany to overcome opposition from German media.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
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