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Europe Update

By Anonymous

? From Bloomberg: Germany May Soften Objections to Fund Increase as Bonds Drop

Germany may soften its opposition to expanding the region?s 750 billion-euro ($966 billion) rescue facility as Belgium?s political deadlock sent borrowing costs surging and the European Central Bank bought Portuguese bonds.

? From AP: Greece borrowing rates hit new record

? From Reuters: ECB Throws Portugal a Temporary Lifeline

The European Central Bank threw Portugal a temporary lifeline on Monday by buying up its bonds, traders said, as market and peer pressure mounted for Lisbon to seek an international bailout soon.

This will be a key week for Portugal.

If Portugal turns to the EFSF, so much for a firewall between the markets and Spain ... the yield on the Spain 10-year bonds hit 5.53% today.

Weekend:
? Summary for Week ending January 8th
? Schedule for Week of January 9th

Full post as published by Calculated Risk on January 10, 2011 (boomark / email).