Yield on Spain's 10-year bond falls sharply
7/10/12 8:08 AM ET (MarketWatch)Print
MADRID (MarketWatch) -- The yield on Spain's 10-year government bond eased sharply on Tuesday, as European stocks also pushed higher after encouraging data from the U.K. In addition for Spain, euro-zone finance ministers reached a deal to make 30 billion euros ($36.9 billion) in aid available to struggling Spanish banks and also said it would extend deadlines for Spanish deficit targets. The yield eased 23 basis points to 6.78%, after marching steadily higher in recent days to around 7%, borrowing costs that are seen as unsustainably high for the Spanish government if maintained.
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