The Spanish 10-year yield hit 6.90% this morning, a euro-era record, before pulling back...

|By:, SA News Editor

The Spanish 10-year yield hit 6.90% this morning, a euro-era record, before pulling back slightly to 6.83%. Investors are reacting to Moody's three-notch downgrade of the country yesterday and to general concerns about Spain's bank bailout and the region's broader problems. Bodes poorly for the Italian bond auction later today; 10-year yields trading around 6.24%.