Spanish borrowing costs surge on speculation for bailout

Note: This section contains information in English only.
Source: Bloomberg
Spain's EUR 10 billion austerity measures did not ease investor worries the country is likely to be the next to demand a bailout. The borrowing costs for Spanish benchmark 10-year bills rallied almost 20 basis points to 5.94% on Tuesday after Miguel Angel Fernandez Ordonez, the Governor of the Bank of Spain said the country's financials may need extra capital in case the economy slows more than predicted.
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