[1]Spanish 5Y CDS broke back above 600bps (just shy of their record 603bps level) and 35bps wider of their intrday low spread from 5 hours ago. Spanish 10Y yields are over 50bps wider/higher than their intraday lows just after the open in Europe. Italy also just broke 550bps. EURUSD is almost unch now.
Spain 5Y CDS > 600bps
[4]
Italy 5Y CDS > 550bps
[5]
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Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/taxonomy_vtn/term/142
[3] http://www.zerohedge.com/taxonomy_vtn/term/12082
[4] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/06/20120611_Spaincds.png
[5] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/06/20120611_Spaincds1.png