Spanish bonds climb

Source: Bloomberg
After the Euro zone governments agreed to the countries banking sector, demand for Spains 2 year notes increased pushing the yield below 4% for the first time in a month. The yield decreased by 33 basis points to 3.95% around 10 a.m. GMT. Spanish 10 year bond yield remained above 6% after speculations that bond holders will be ranked behind official creditors of the bailout. The yield decreased by 11 basis points to 6.11%. News on the Spain banking bailout had positive impact on the bonds of other troubled countries such as Italy and Ireland.

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