Spanish Bond Yields Soar - NYT

MADRID — Spain’s borrowing costs rose to record levels for a third consecutive trading day on Monday on concerns that a deepening recession and the financing problems of its regions would force the government to seek a full-fledged bailout.
Market regulators in Spain and Italy announced bans on stock short-selling, as Spanish turmoil and fresh concerns about Greece’s status in the euro zone sent European stocks down broadly and sharply.

The yield, or interest rate, on 10-year Spanish government bonds was at 7.4 percent in late afternoon trading on Monday, having breached 7 percent last Thursday — a level that many analysts fear could eventually shut Spain out of public markets and force it to seek a Greek-style bailout. Read More