European Sovereign Debt—The Real Ticking Bomb

I’ve been banging on for months along with Martin Armstrong that the real problem overhanging these markets is not an over-priced U.S. equity market.  That’s a sympton of a much bigger problem. The real problem is an over-valued European sovereign bond market.

Looking at today’s bond market we see technical breakouts on yields to the upside across the continent.  And we’re not talking the usual suspects here, like Italy, Portugal or Greece.