Spain bonds continue to drop

Note: This section contains information in English only.
Source: Bloomberg
Spain bonds dropped one more day after Fitch Ratings agency announced that government led by Prime Minister Mariano Rajoy will fail to reach budget deficit targets. The yield of a 10 year government debt increased by 17 basis points reaching 6.68%. The spread against German bunds increased by 9 basis points and reached 5.29% by 2 a.m. GMT. European commission forecasts 6.4% and 6.3% Spanish budget deficit for 2012 and 2013, respectively.
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