Spain yields climb on low demand

Note: This section contains information in English only.
Source: Bloomberg
Spain managed to auction EUR 2.6 billion (USD 3.4 billion) of notes or the amount close to the planned minimum. As result Spanish yields surged as the positive effect from ECB cheap cash faded. The Spanish borrowing costs for 10-year notes advanced from 5.45% to 5.64% yesterday compared to 4.87% on March 1, before PM Rajoy said Spain would fail to meet its budget deficit target for 2012.

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