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Spanish bond yield hits 7 percent

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Spanish bond yield hits 7 percent
Submitted by Fox First at Ten on June 18th

MADRID (AP) - Span's borrowing costs broke through the level where its debt is seen by many market watchers as unsustainable Monday, despite the victory by pro-bailout parties in the Greek elections.
Financial data provider FactSet said that shortly after 0900 GMT the interest rate on Spain's 10-year bonds - an indicator of market confidence in how well a country can pay down its debt - stood at 7.02 percent. That marked a rise of nearly 15 basis points for the day, in which the yield had initially fallen. Stocks were down 1.5 points.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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