European Debt Crisis: Spain’s Ugly Bond Auction17 November, 2011, 17:55. Posted by Zarathustra
Tags: Economy, Euro Crisis, Europe
Just as expected here, the European debt crisis is not solved.
Spain has just sold some 10-year paper. The average yield hits 6.975%, so after Italy has flirted with 7%, Spain is probably the next in line. The bid-to-cover is 1.54, and it only managed to sell €3.56 billion instead of the max. target of €4 billion.
Elsewhere, French-German spread has reached 200 basis points, and Italy is still at around 7%. Things aren’t looking pretty