(Reuters) – Spanish bond yields hit a new euro-era high above seven percent and Italian yields jumped on Monday as initial relief after a pro-bailout victory in Greek elections gave way to pessimism about the huge problems still facing the currency bloc.
The swift reversal in sentiment saw German Bund futures rise, quickly erasing early losses of over a full point, while European equities and the euro wiped out initial gains…
Investors turned their attention back to Spain, the euro zone’s fourth-largest economy, where spiraling borrowing costs are threatening Madrid’s ability to fund itself and raising speculation that Spain may need a full-blown bailout.
via Spain suffers as sentiment sours post-Greek election | Reuters.
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