Spanish, Italian Yields: All Is Not Well

The bank bailout in Spain will add debt to the government’s books, which makes already unattractive Spanish debt less attractive. The loans for the bank bailout have seniority over Spanish bondholders, also making Spanish bonds less attractive to new buyers.
Not surprisingly, both Spanish and Italian bond yields are up sharply this morning, which is [...]

Source: http://ciovaccocapital.com/wordpress/index.php/stock-market-us/spanish-italian-yields-all-is-not-well/

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