Spanish Bond Yields Steady After Spain Calls Snap Elections

Dow Jones
1 hour ago

0822 GMT - Spanish 10-year government bond yields trade steady, underperforming their German peers whose yields fall, after Spanish Prime Minister Pedro Sanchez called snap elections for next month after protests against high housing costs. Moves in Spanish bonds aren't as dramatic as those of their French equivalents, where budget worries have caused yields to jump and spreads against their German equivalents to balloon. Still, political turmoil in Spain adds to investors' concerns. "Unrest in Spain and France underlines the difficult position governments are facing," Wealth Club's Susannah Streeter says in a note. Spanish 10-year government bond yields trade at 3.964%, having earlier traded above 4%, Tradeweb data show. Spreads between Spanish and German 10-year yields rise to 64.80 basis points.

 

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