Key Data Points
German 10-year Bund 2 bps lower;
Italy 10-year 15 bps wider to the Bund;
Spain 46 bps wider;
Portugal 7 bps tighter;
Greece 54 bps tighter;
Large Eurozone banks higher;
Euro$ up 0.31 percent.
Commentary
Prime Minister Mariano Rajoy delayed seeking a second rescue for Spain while pledging to continue bailing out its regions as Valencia requested more money to settle bills and cover debt…
Rajoy reiterated Spain won’t seek a second bailout until European leaders make aid conditions clear. Spain locked in as much as 100 billion euros in international aid for banks last month. The yield on Spain’s 10-year benchmark bond rose 13 basis points at 5:44 p.m. in Madrid, widening the gap with similar German maturities to 5.27 percentage points. – Bloomberg
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