SPANISH BOND YIELDS HIT EURO-HIGH

UPDATE:

Spanish 10-year yields just hit a record Euro-area high, topping 6.829 per cent.

That represents a 30 basis point jump this morning or a 5 per cent single day surge. 

The jump came as ratings agency Fitch said it had cut long-term credit ratings of 18 Spanish banks. 

Spanish 10YR

Photo: Bloomberg

ORIGINAL:

For the second straight day, Spanish borrowing costs are surging.

This is the fastest collapse of bailout optimism ever.

Yields on 10-year bonds have passed 6.7%!

Early yesterday morning they were sub-6%!

image

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.

Tagged In

moneygame-us spain