Waiting for the draw

Awaiting with bated breath the results of this morning's Tesoro auction of 15- and 8-year bonds. At this moment, the secondary market is demanding a yield of 5.63 percent from the 10-year, 4.83 from the 5 and 3.53 from the 2. Regarding the peripheral contagion thesis, these are respectively 5, 17 and 43 basis points below the maxima set on November 30, 2010.

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