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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL
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From: PaperPerson11/15/2011 8:45:46 AM
   of 4690
 
Market Nuggets: FOREX.com: Dollar Bid With European Bond Yields Rising Again

15 November 2011, 8:40 a.m.
By Kitco News
kitco.com

(Kitco News) - The U.S. dollar, as well as Japanese yen, has received a bid as risk aversion returns to markets, says FOREX.com. European bond yields and credit default swaps are surging as the region’s debt crisis intensifies and Italian prime-minister designate Mario Monti faces political resistance to forming a cabinet for his technocratic government. “Italian 10-year yields are up nearly 30 bps (basis points) and back at 7% while CDS reached record levels,” FOREX.com says. “Spanish, Belgium and French credit default swaps also surged to record levels as investors feared contagion. Spain sold 3.16B euros of 12- and 18-month bills, which missed the target of 3.5B euros.” Further, the average yield on the 12-month bills jumped to 5.02% from 3.61% in October. Spanish 10-year yields advanced, moving the spread over German equivalents to record highs, and 10-year-yield spreads of France, Belgium and Austria over bunds also rose to record levels, FOREX.com says. Metals traders tend to monitor moves in the euro versus the dollar, as this often influences base and precious metals alike.
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