Tue, 06 Mar 2012 19:13:55 GMT
Spain and Italy faced an increase in cost of borrowing
Spain and Italy faced an increase in bond yields after news that Greek default is expected to force these countries to look for further financial aid. 10-year yields on Spanish debt jumped from 4.95% to 5.05% on Monday while Italy's 10-year debt yields added 10 basis points approaching 4.97%. Meanwhile, yields on the two-year Span's debt eased up to 2.31%