Yield on 10-year Spanish bonds remains stubbornly high near 7%, but yield on 2-year bonds is in the midst of a breathtaking crash.
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Spain 10-Year Government Bond Yield
Just as the president reminded us yesterday we are not a deadbeat nation, merely borrowing money today to pay the bills of yesterday, so, as the NY Times reports in this all-too-real article, many of the citizens of the US are also living not just paycheck-to-paycheck but short-term-loan-to-short-term-loan.
By Joe Firestone, Ph.D., Managing Director, CEO of the Knowledge Management Consortium International (KMCI), and Director of KMCI’s CKIM Certificate program. He taught political science as the graduate and undergraduate level and blogs regularly at Corrente, Firedoglake and Daily Kos as letsgetitdone.
Italy could issue its first 30-year benchmark bond in more than three years in 2013 after successfully selling a new 15-year bond this week, the head of the Debt Management Office said Wednesday.
Rome, which has 2 trillion euros of public debt to refinance, shied away from selling longer-dated paper during the worst of the euro zone debt crisis, which pushed yields on its bonds and its borrowing costs higher across the curve.
Sovereign bond yields in Spain and Italy have been climbing across the board, not just the longer durations. Please consider Italy pays dearly to issue one-year debt.
Italy sold €6.5bn of one-year debt at the highest cost since December, underscoring how one of the world’s biggest bond markets has been dragged back into Europe’s debt crisis.
Spain's borrowing costs soared Tuesday in an auction of short-term debt, suggesting investors remain cautious about the country's financial future despite a convincing electoral win this week by conservatives ...