Spanish stock exchange down 6%, 10 year bond yield 7.28%
20 July 2012 @ 17:16
At the time of writing this, the Spanish stock exchange (the IBEX) is down just shy of 6%. The yield on 10 year Spanish government bonds is 7.28%. It's been a bloodbath today, in reaction the news that the central government has had to bail out the Valencia regional government. The first of many regional bailouts I would imagine.
It's starting to look like the end game now for Spain, with a full blown IMF/EU bailout just round the corner.
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