Spanish bond yields at record high |
| CNNMoney - Jun 12, 2012 |
Spanish bond yields rose to a record high Tuesday as investors remain worried about the link between Spanish banks and the government.
The yield on 10-year Spanish bonds rose to 6.83%, marking the highest level since the euro was introduced in 1999.
"We're in uncharted territory," said Nick Stamenkovic, market strategist at RIA Capital Markets in Edinburgh.
Fitch downgraded the credit rating of 18 Spanish banks, pointing to the weak economy and the banks' exposure to bad real estate loans. That came one day after the agency cut its rating on the nation's two largest banks, Santander (STD) and BBVA (BBVA).
And last week, Fitch cut its rating on Spanish government debt to one step above junk status.
Read Full Article from CNNMoney
- Posted: 2012-06-12 12:10:19
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