Futures Market News
Spanish bond yields gain as nation prepares for sale of debt
Apr 16, 2012 10:27 AM
The euro's value dropped lower than $1.30 against the greenback for the first time in roughly eight weeks. The embattled monetary unit plunged to its lowest price in about two years against the English pound. Leaders in the euro zone are under fire for not doing enough to prevent the debt scourge from spreading.
"There seems to be renewed fear that the euro-zone crisis has taken a turn for the worse," currency strategist Lee Wai Tuck with Forecast in Singapore told Bloomberg. "Stock indexes are all in the red, so that shows that there's risk aversion at the moment. The interest is to buy back the yen."
One Spanish government minister requested that the European Central Bank more forcefully emerge and prevent the debt scourge's damage.
Ten-year Spanish government bond yields on Monday drove higher than 6 percent for the first time this year, according to Reuters.
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