European Are Sovereign Borrowing Costs Are Surging — Just Like Old Times

It’s like it’s Summer 2011 (or Summer 2012) all over again.

Borrowing costs in Spain and Italy are surging again, as concerns over Italy are throwing a roundhouse to the Eurozone’s most on-the-edge cases.

Spanish 2-year yields have jumped back above 3%.

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[credit provider=”Bloomberg” url=”http://www.bloomberg.com/quote/GSPG2YR:IND”]

Italian 10-year yields are jumping big, up to 4.8%.

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[credit provider=”Business Insider, Bloomberg” url=”http://www.bloomberg.com/quote/GSPG2YR:IND”]

Of course, equities are getting clubbed everywhere, with Italian banks really getting slaughtered.