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Friday, July 6, 2012

Spain Re-Enters Danger Zone, Germany Borrows for Free

English: Clockwise from top-left: Federal Rese...
English: Clockwise from top-left: Federal Reserve, Bank of England, European Central Bank, Bank of Canada (Note: Uploaded for use on Wikinews) (Photo credit: Wikipedia)
Spain Re-Enters Danger Zone, Germany Borrows for Free - CNBC ...
New steps by three major central banks to boost global growth failed to impress investors on Friday, sending Spanish borrowing costs back near unsustainable levels and hitting European stocks. Reflecting the impact of the European Central Bank's [cnbc explains] decision tocut lending rates to 0.75 percent and deposit rates to zero, German government bond yields were weaker with the yield on two-year debt briefly turning negative.
German two-year government bond yields fell to zero and briefly turned negative on Friday after the European Central Bank cut interest rates the previous day. Two-year yields fell as low as minus 0.001 percent, two basis points lower on the day. Spanish 10-year government bond yields extended their rise to go past 7 percent on Friday, with investors dumping risky assets as they fret about the efficiency of the anti-crisis tools available at the moment. Ten-year Spanish yields were last 22 basis points higher on the day at 7.006 percent. ... Continue to read.
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