Spanish yields surge ahead of auction

Note: This section contains information in English only.
Source: Bloomberg

On Tuesday Spanish borrowing costs for 10-year notes increased 9 b.p. to 5.88%. Today Spain is going to auction securities with maturities 12 and 18 months. Italian 10-year bonds followed their Spanish peers and added 13 basis points to 6.66%. German bonds also declined as their 10-year yield gained 4 b.p. EFSF plans to auction 3-month bills worth €2bn.                

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Tue, 13 Dec 2011 11:32:10 GMT

Hungary to review budget for 2012 as economic outlook weakens

Viktor Orban, Hungarian PM said Hungary will have to review its 2012 government budget due to diminishing economic outlook as well as weakness of national currency forint. Hungarian parliament expects next year's growth to reach only 0.5% instead of earlier predicted 1.5% as demand from debt harmed European nations has declined sharply. 

Tue, 13 Dec 2011 17:37:40 GMT

Canada to abandon Kyoto protocol

On Monday Canada became the first nation that claimed it will quit Kyoto protocol. Peter Kent, Environment Minister made an announcement of Canada's abandonment after he returned from summit in Durban. Canada, a leading energy producer has complained extensively that Kyoto protocol does not work as it ignores too many important emitters such as India and China. 

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