Spanish Yields Rise as Fitch Says Targets May Be Missed
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Spanish borrowing costs jumped to the most in the history of the euro as European government bonds slumped on concern policy makers aren’t doing enough to prevent the currency bloc’s financial woes from deepening.
French securities slid with benchmark German bunds as Fitch Ratings said it may cut credit grades across Europe because policy makers are failing to demonstrate they can bring the debt crisis under control. The yield on Italian 10-year securities jumped to the most since January as the country prepared to sell bonds on June 14. Germany will offer 10-year bunds, Europe’s benchmark securities, tomorrow, after Austria and the Netherlands auctioned debt today.