Spain Bond Yield Move Toward 7%

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Many economists believe that a nation which has to pay 7% to raise money for any extended period cannot viably cut its deficit or national debt. There are many reasons for the capital markets to be skeptical about Spain. Among those reasons are its 25% unemployment, a new recession, and a compromised bank system.

According to MarketWatch:

Yield on Spain 10yr bond at 6.94%, up 21 bp