The charts below show 10-year sovereign debt spreads between major European countries and Germany. While the wrangling over Greece and its austerity measures seems to never end, investors seem to be growing more comfortable with the situation in other countries. For every country except Greece, sovereign spreads are well off their highs from last year, and for more than half of the eight countries shown (Italy, France, Austria, Portugal, and Belgium) the recent leg lower in debt spreads has formed a lower low. For now at least, things are quieting down on the European front.
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