Spain stocks rebound on bank nationalization plan

Spanish Bond Yields Back Above 6% Yield on the 10-year Spanish bond is up 22 basis points to 6.06%, having hit a high of 6.08%. It's Not Contagion

I was having a diffuse Twitter disagreement about TARP earlier that I think is worth blogging on.

MADRID (Reuters) - More than six million Spaniards were out of work in the first quarter of this year, raising the jobless rate in the euro zone's fourth biggest economy to 27.2 percent, the highest since records began in the 1970s. The huge sums poured into the global financial system by major central banks have eased bond market pressure on Spain, but the cuts Madrid has made in spending to regain investors' confidence have left it deep in recession.

ByValue Digger: Introduction

By Sammy Pollack:Late Saturday, eurozone leaders announced a plan to lend Spain up to $125 billion in an effort to stabilize the Spanish banking system. So far, the global markets have responded very well to the news. As I write this, Japan's Nikkei is higher by more than 2%, the euro (FXE) is higher by nearly 1%, and U.S. equity futures are sharply higher.