The Infection Of Europe Is Now Complete

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Wednesday, November 23, 2011 The Infection Of Europe Is Now Complete The big shocker from Europe today: A 10-year bond auction in Germany failed to draw the expected volume of bids. Most European governments are experiencing some sort of funding tension right now, but this was a big deal because Germany has always been a safe haven. Now that's seemingly changed. Now actually, this kind of "failed" auction happens from time to time in Germany. In itself it's not that big of a deal. Yield wise, Germany is still borrowing money at dirt-cheap interest rates. What's really more startling though is the direction of yields on a day that's so decisively risk off: They're going higher. Seeing Germany not catch this flight-to-quality bid is a major break in the pattern. And when it's combined with the lack of interest at the auction, then it hits you: Germany is more like Greece than the U.S. in the sense that neither it nor Greece has a central bank as a lender of last resort. Anyway, here's the German 10-year yield. That's a big one-day move. Read » Also On Money Game Today: 12 Of The Worst-Performing IPOs Of The Year This Is Turning Into One Of The Ugliest Thanksgiving Weeks For Stocks LIVE COVERAGE: Markets Swoon Some More, Dow Off 195, NASDAQ Down 2% The 10 Things Investors Are Freaking Out About Right Now Advertisement CHART OF THE DAY: Dubai Stock Market Lurches To Its Lowest Close In 7 Years CHART OF THE DAY: Global Investors Reach A Historic Level Of Pessimism CHART OF THE DAY: Why The Next Jobs Report Could Be A Real Monster Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.wyldside@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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