yieldsand 30 year drifting higher on the front end by about five basis points.o drama on the longer end. around 3% on a 30 year yield. coming up, the final spread. the week ahead featuring the fed minutes from the january meeting. that is next. this is bloomberg "real yield." ♪ jonathan: i'm jonathan ferro. this is bloomberg "real yield." time for the final spread. coming up over the next week, remember, the long weekend in the u.s. means markets are closed this monday for president's day. later in the week, minutes from the fomc january meeting, existing home sales, and durable goods data. still with me is michael, doug peebles, and krishna memani. krishna, i want to begin with you and the skipped call option on the 81 in santander in spain. how concerned are you? krishna: it is the first, so if you are a typical european investor and got into the market with certain expectations, you are disappointed, flustered. how could they do this? if you are a long-term investor in credit markets, have been doing this for a long time, this sort of thing happens all the ti