Spanish 10-Year Bond Yield Hits 7pc Danger Level Spanish 10-year government bond yields hit 7 percent on Thursday, marking the first time in euro-era history the yield has hit the level seen by markets as too expensive for a sovereign to borrow over the long term.
Spanish 10-year yields rose to 7.01 percent, up 23.4 basis points on the day, according to Tradeweb data.
The rise follows a three-notch downgrade to Spain's credit rating by Moody's, which took it to within one notch of "junk" status.
Spanish yields have risen sharply this week after euro zone ministers agreed at the weekend on a rescue plan of up to 100 billion euros for the country's banks that has failed to convince investors it solves Spain's financial problems.
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