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Spanish two-year yields hit euro-era high
Spanish two-year bond yields spiked above 7pc on Wednesday morning, marking a fresh euro era high. The rise fuelled fears that Madrid is effectively locked out of the bond markets and will be compelled to seek a bailout or turn to the European Central Bank (ECB). That was compounded by a report in Spain's elEconomista, which claimed that Germany had urged Spain to request a €300bn bailout. The funds would initially come in the form of a €100bn loan from the eurozone's temporary bail-out pot, the European Financial Stability Facility (EFSF). The rest would become available once the European Stability Mechanism ... (full story)
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