Spain Yields Blow Out – Comparing The Region
July 20, 2012 2:49 pm
If 7% is the level of concern for the 10-year, we have well surpassed that today in Spain. Over the last week, Spain’s 10-year note has declined significantly so that the yield is now a whopping 7.23%
Since 7/13/2012, the yield has increased by 61 bps. That is way too much for the country to handle.
It is painfully clear that the measures that have been taken are not doing anything to instill confidence with investors. Unfortunately, the last minute (before the markets open on Sunday night) deals need to be reviewed for their effectiveness. Perhaps a plan that has a lifespan more than a week could be concocted in order to have some sustainability.
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