WHOA: Yields On Spanish Bonds Are Going Nuts!

Yields on 10-year Spanish bonds have jumped more tha 28 basis points today, hitting a whopping 6.5 per cent.

The move higher in bond yields suggests that the bank bailout has failed to reassure markets that the bailout will truly divorce the troubled financial sector from the Spanish government. Further, chatter about the kind of restrictions the Spanish government will have to accept have investors worried about the economic consequences of a bailout.

Check out yields on the Spanish 10-year today:

chart

Photo: Bloomberg

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