23 Jul 2012
Debt Troubles in Spain Regain Market Focus
Equity markets finished lower to close the week on comments from finance ministers in Spain which suggested that the recessionary conditions in Europe are likely to carry int 2013. The most direct impact of the commentary was seen in Spanish bond markets, with yields rising to an all time high for the Eurozone era. The higher funding costs for Spanish treasuries became the main driver for the Friday sell-off in equity markets as it is becoming increasingly difficult for Spain to meet its government debt obligations. Read more…
