Spanish and Italian bond yields surge towards 6% on G20 fears

Finance chiefs at the G20 meeting today in Washington put pressure on Europe to solve the two-year eurozone crisis, which they labelled the largest drag on global economic growth, Bloomberg reports. At midday, Spanish 10-year bond yields had risen three basis points from 5.91% to 5.94%, and Italian 10-year yields had risen six basis points, from 5.58% to 5.64%. Spanish 10-year notes soared to above 6% on Monday as fears over the health of Europe's fourth largest economy accelerated. However, a Spanish bond auction yesterday provided some relief after the nation managed to sell all ...