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Spanish yields pierce 6 pct as nerves jangle

From reuters.com

Spanish 10-year yields broke back above 6 percent on Friday, driving German Bund prices to record highs, as investors worried about Madrid's ability to deal with its fiscal problems and a potential spread of the euro zone debt crisis. The cost of insuring Spanish against default also rose close to a record, with pressure on Spain unrelenting after a debt auction on Thursday fell short of market expectations. A sustained break of 6 percent in 10-year yields could see borrowing costs accelerate to unaffordable levels. The latest flare-up in the euro zone debt crisis threatened to spread to Italy, where 10-year yields ... (full story)

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  • Category: Medium Impact Breaking News