HOLY CRAP: The Spanish 10-Year Yield Hit 7.0%

According to FT’s Chris Adams and CNBC’s Ross Westgate, the Spanish 10-year yield just broke through 7.0 per cent on Tradeweb.

SEE ALSO: 14 Reasons Spain Is Turning Into A Disaster >

This is getting scary.

The cost for the Spanish government to borrow for 10 years hit a euro-era, all-time high of 6.90 per cent this morning.  They’ve pulled back ever so slightly.

Still, this goes to show that despite this weekend’s announced Spanish bank bailout, the country still faces its problems.

At least that’s what the markets are saying.

spanish 10 year

Photo: Bloomberg

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.