European Markets Get SLAMMED And Bond Yields Soar

European markets tanked today after a mediocre Spanish bond auction and a speech from European Central Bank President Mario Draghi focused on inflation concerns.

Take a look at the carnage:

FTSE 100: -2.33%
DAX: -2.89%
CAC 40: -2.76%
FTSE MIB: -2.22%
IBEX 35: -2.09%

Most concerning, however, were Spanish and Italian 10-year bond yields, up 26 and 24 basis points to 5.71 and 5.34 per cent, respectively. Check out yields on those Spanish bonds today:

Photo: Bloomberg

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