3% interest rate, 15-year term with a 5 year grace period before payments are due? Where do I sign up?

Look for Greece, Ireland and Portugal to line up for similar terms…

EUR/GBP short-covering is the dominant theme so far this morning, a sign that bearish momentum against the euro is beginning to flag…Looks like a period of backing and filling ahead as the market awaits the Greek election outcome on Sunday.

Spain’s 10-year yields are marginally easier this morning, now at 6.715% from yesterday’s close at 6.75%.