Friday 29 July 2011

Eurozone debt crisis resurfaces as markets punish Italy and Spain for Merkel delay on bailout package

The Telegraph, Friday 29 July 2011

Spain and Italy's borrowing costs marched back towards euro-era highs on Wednesday, as markets renewed their eurozone fears less than seven days after ministers agreed a €159bn (£140bn) second bail-out for Greece.

Yields on Spanish ten-year government bonds climbed to 6.08pc on Wednesday morning, slightly below the highs of 6.337pc seen before Greece's new bail-out package was announced last Thursday.

Italian bonds climbed to 5.793pc, just 20 basis points below its highs of 6.008pc. Concerns are now mounting that yields could reach the 7pc 'point of no return' mark that prompted smaller euro partners Greece and Portugal to seek bailouts.

For article GO HERE

No comments:

Post a Comment

Note: only a member of this blog may post a comment.