|Italy - Germany 10Y Spread (Bloomberg)|
The spread measures Italy's credit risk against Germany which is considered the safest credit in the Eurozone. There is an ongoing sovereign debt crisis in Europe with the PIIGS (Portugal, Italy, Ireland, Greece and Spain), so these spreads are important to watch. Today the 10 Year Spanish-German Bund spread (SPAGER10:IND) closed 6 basis points away from the high made on 11/30/2010 (283). The 5 year spread is not on Bloomberg.com. I provide links to more spread quotes on Bloomberg.com in this post.
*This just in:
Moody's Warns On Ratings Of Italian Banks (WSJ)
China Formally Working With IMF To Avoid Eurozone Restructuring - Qu Xing, director of the China Institute of International Studies (Zero Hedge)
China Recognizes Risk Of Buying Euro-Zone Sovereign Debt -China Adviser (Wall Street Journal)