These were the yields and basis point movements of some of the most watched 10 year bonds by the close in Europe:

Spain: 5.88% (-6bp)
Italy: 5.07% (-2bp)
France: 2.19% (+2 bp)
Germany: 1.45% (+1 bp)
UK: 1.74% (+1bp)
US: 1.62% (-1bp)

There are 100 basis points to a percentage point

Developed economies' long-term sovereign debt traded somewhat mixed today.

Perhaps most strikingly, US bonds are gaining despite the release of a significantly better than expected reading on that country's manufacturing sector.

Helping bonds in the US are remarks from Fed chief Bernanke to the effect that the current policy settings will be maintained even once an economic recovery is apparent.

The Eurozone manufacturing sector purchasing managers' index for the month of September came in slightly ahead of forecasts, at 46.1 (Consensus: 46).

Nevertheless, the above came alongside a rise in the Eurozone's unemployment rate to a record high of 11.4% in August.

Meantime, markets gained in the aftermath of the Spanish financial system stress test results. Yet that may be due in no mean measure to speculation of a now even more imminent bail-out petition to come from the government in Madrid.

AB

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