Currency Wars: Greek 10-Year Bond Yield Dips Below 2% as Bets on Rate Cuts Rise

Mike “Mish” Shedlock's Sitka Pacific Capital Management,Llc

For the first time ever, Greek 10-year bond yields dipped below 2%.

US Bond Yields vs Europe

US: 2.05%
Greece: 2.01%
Italy: 1.50%
UK: 0.68%
Portugal: 0.43%
Spain: 0.36%
France: -0.11%
Germany: -0.37%
Switzerland: -0.67%

Figures from Trading Economics.

Shock and Awe?

Global Currency Wars On

In case you missed the general idea, global currency wars (not so cleverly disguised as interest rate policy) are hugely underway.

And please note that the ECB is following Japan's model and it did not do Japan any good.

Is the US Supposed to Follow?

For discussion of the resultant bubbles, please see Fed's Asymmetric Bubble-Blowing Policy in Pictures.

Also note Shock and Awe Needed to Un-Invert the Yield Curve: Half-Point Cut Not Enough.

Author

Mike “Mish” Shedlock's

Sitka Pacific Capital Management,Llc

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