Italian and Spanish 10-year bond yields have been rising ahead of a summit of eurozone finance ministers on Monday. The yield on Spanish 10-year bonds, which are taken as a strong indicator of the interest rate the government would have to pay to borrow money, rose above 7%, while Italian bond yields rose to 6.1%. [...]
Spain’s borrowing costs have risen to another euro-era record, with lenders demanding a higher interest rate. The yield on benchmark 10-year bonds hit 7% on Thursday morning, a level which many analysts believe is unsustainable in the long term. It came as Moody’s cut Spain’s credit rating to one notch above “junk” and ahead of [...]
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