Spanish and Italian yields hit record highs

Spanish and Italian government borrowing costs have hit eurozone-era highs as investors continue to worry over the state of their respective economies.

Spanish 10-year government bond yields reached an intra-day high of 6.35% earlier today, according to figures from Tradeweb, with Italian 10-year bond yields reaching their own record level of 6.18%. Yields have since blown out further still, rising to 6.46% for Spain and 6.26% for Italy. Significantly, Greece, Portugal and Ireland were all forced to seek bailout packages once their borrowing costs passed the 7% mark. Italian economy minister Giulio Tremonti is set to chair a meeting of the country's Financial Stability Committee in reaction to the price moves, while Spanish prime min...