Pressure remains on Spanish, Italian yields

Pressure remains on Spanish, Italian yields
10 April 2012, by Barbara Kollmeyer - Madrid (MarketWatch)
http://www.marketwatch.com/story/pressure-remains-on-spanish-italian-bond-yields-2012-04-10

Yields on Spanish and Italian government bond yields continued to rise on Tuesday as financial markets in Europe reopened after a four-day Easter break.

Yields on 10-year Spanish government bonds jumped 9 basis points to 5.83%, surpassing a high of 5.74% reached last week,

a level not seen since the start of the European Central Bank's long-term refinancing operations.

Spanish yields soared last week after a disappointing government bond auction that saw rising borrowing costs and lackluster demand.

Yields for Italy's 10-year government bond, also under pressure last week, jumped 15 basis points to 5.5%.

That is a level not seen since February.

Spanish and Italian stock markets were also under pressure,

with the IBEX 35 index down 1.4% and the FTSE MIB Italy index down 2.2% to 14,881.69, with financials under pressure.