The Two-Way
Originally published on Thu June 14, 2012 12:10 pm
By Eyder Peralta
After Moody's became the second ratings agency to downgrade Spain's sovereign debt, the country's borrowing costs skyrocketed to record highs.
"The interest rate — or yield — on the country's benchmark 10-year bonds rose to a record 6.96 percent in early trading Thursday, its highest level since Spain joined the euro in 1999 and close to the level which many analysts believe is unsustainable in the long term," the AP reports.
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