Research (Česká spořitelna)
Markets  |  September 24, 2012 10:00:59

Spain: Bond yields again rising above 6%, banks will need 60 mld.EUR

Španěské slowly grow revenues and income of ten they are back above 6%. The reason is speculation about whether and when Spain calls for help. Protests in Madrid showed that the government of promoting other savings will not be easy. That is why the EU is reluctant to ask for help, even if it meant to her that the ECB started to buy its bonds and thus brought her almost instant relief.

On Tuesday, Spain successfully was reported in 4.6 billion euros bills with maturities of 12 and 18 months. Spaniards on the one hand helped generally better mood in the markets.
On the other hand, speculation about the expected Spaniards request for help (which is needed for the ECB to start buying their bonds), retained earnings is relatively high (although slightly lower than in the same auction last month). The weekend's economy minister said that the request does not rush. First, he wants this week to introduce reforms to reduce the deficit. Apparently, the government wants to avoid the situation if the savings had to present in front of his home crowd as forced as the EC.

The audit showed that the rescue of Spanish banks will need 60 billion euros. What is more or less expected. Already in June EMU Spaniards promised for these purposes up to 100 billion


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Španělsko: Výnosy dluhopisů opět rostou nad 6%, banky budou potřebovat 60 mld.EUR

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