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Yields on 10 year government bonds are on the rise again. They rose to 5.11% after falling on Friday under 5%. Spain’s bonds serve as a good gauge for investor confidence in the continent.

While Portugal hasn’t been “saved” yet, the EU / IMF fund still has money to handle Portugal. Spain is already too big to bail.

The ECB’s announcement about the size and character of bond buying is awaited, at 14:00 GMT.

The Euro is falling today. For technical levels and analysis, see the EUR/USD forecast.