Spanish bond yields top 6% as markets cling to gains

Worries over the health of sovereign nations in Europe - and in particular Spain - have pushed bond yields sharply higher during trading today, while equity markets are clinging on to gains following a strong start.

The yield on 10-year Spanish bonds is at 6.065% this afternoon, having broken through the 6% mark on renewed fears Europe's fourth largest economy cannot tackle its worsening political, social and economic problems. The climb in yields, which started last week, comes ahead of a visit by European officials to the US to speak to the International Monetary Fund. It is thought further funding will be sought to help tackle the crisis. The real test this week will be on Thursday when Spain holds two large bond auctions. Despite the problems in debt markets, shares remained firmer mid-aft...