Yield on Spanish 10-year bonds higher

AP News
Posted: Jun 27, 2011 5:58 AM
Yield on Spanish 10-year bonds higher

The yield on Spanish debt has shot up to 5.7 percent over fears of contagion from the Greek debt crisis.

The yield has been rising steadily since the middle of last week as investors fret over whether the Greek Parliament will approve more austerity measures as a condition for obtaining more bailout money.

Despite the rise in borrowing costs, Spain's finance Minister Elena Salgado said Monday that Spain had no trouble financing itself in the markets and blamed the current spike to tensions related to the Greek debt crisis.