Spanish 10-Year Note Yield Pierces Through 7% Again

Spanish bonds pulled back and yields rose after demand slipped at a Spanish bond auction this morning (1, 2, 3). Also read this Guardian article:

"IMF calls for 'decisive action' as Spanish bond yields near danger level. ECB must cut interest rates, start large-scale QE and wade into bond markets to drive down borrowing costs, says critical report."

The trend is not Spain's friend. Take a look at the 6-month chart. Spain's 10-year note yield hit 7.01% a moment ago, but just pulled back to 6.988%. Follow the links to watch the yield in real-time.

Intraday Spanish 10-year Note Yield (source:

6-Month Spanish 10-year Note Yield (source:

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