A picture says a thousand words
BACK IN 1995, which country had the second highest 10 year government bond yield?
As Europe’s third largest economy, Italy is too big to bail out. Past performance is not a predictor or future performance. However, if historical bond yields provide us with any insight about the Europe’s future, you should not be overly surprised if Italian and Spanish government bond yields rise above 11% before too long (hint: this is bad news for Europe and the future of the euro currency).