Nothing in the US data was so dire as to switch the focus from Europe, where bond yields are blowing out.
Belgium is the worst performer today, ex-Greece, with yields jumping 28 bp to 5.38%
French yields are 11 bp higher at 3.65%, 1.67 bp over bunds, which are yielding 1.99% after the poor auction this morning.
Italian yields are 16 bp higher, pushing it to 7.03%. Spain is at 6.68%.
