Key Data Points
German 10-year Bund yield 14.4 bps higher;
France 12.7 bps tighter;
Italy 27.1 bps tighter;
Spain 63.8 bps tighter;
Portugal 117 bps tighter,  closes below 10% at 52 week low;
Ireland 40 bps tighter;
Italian and Spanish bank stocks up 2-4 percent;
Euro FX down 0.48 percent;

Commentary
Post Greek election and rumors of German softening on sovereign bond buying send shorts scrambling.  Portugal closes below 10 percent for the first time in over a year.  Markets seem to be sniffing a bazooka and/or big policy shift.

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