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Spanish Bonds Slump amid Protests

Ten-year yield moves back above 6% as Catalonia considers 'self-determination.'

By Emma Ross-Thomas and David Goodman, | Updated on September 26, 2012

Spanish bond yields surged the most this month as a second night of violent protests loomed amid sparring over the police response to clashes in Madrid.

Spain’s 10-year benchmark yield rose above 6 percent, approaching the levels seen before European Central Bank President Mario Draghi offered to buy struggling nations’ debt. Prime Minister Mariano Rajoy told the Wall Street Journal in comments confirmed by his office that he would “100 percent” seek a rescue if borrowing costs stayed “too high.”

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