No doubt they are jumping for joy in Spain, Italy, Portugal and Slovenia especially.

  • Spain busts 4% to 3.971% down over 3.5% today
  • Italy 3.732% down 0.053bp or -1.40% on the day
  • Slovenia down over 2.5% today to 5.69% -0.15bp
  • Portugal 5.557% -0.165 bp and -2.88% on the day
  • Ireland 3.43% down 2% today

In light of all the negative rate talk, it will be interesting to see whether banks lower their deposits with the ECB and move more into short dated paper.