“The region’s market for high-grade government and corporate debt posted a fall of 5.3 percent in the month to Tuesday, the biggest drop since the Bloomberg Pan-European Aggregate Total Return index began in 1999. The decline has been broad, with UK, German and French debt all hit by heavy selling in a reversal of July’s gains.”
USAGOLD note: Rates are going higher to address inflation that seems to be only getting worse. It is no longer just Italy and Greece with debt market problems, but the more stable nation-states as well. Will Europe be forced to finance government spending with printing press money?