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Euro crisis: More on this morning's "disaster" in Spain
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Tuesday, November 15, 2011
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From The Stock Sage:

Spain had disastrous 12-month and 18-month bill auctions this morning, in which it was only able to issue 2.6 billion euros of 12-month paper at a ridiculously high yield of 5.022%.

The fact remains that Italy, Spain, et al. cannot continue to issue debt at 5%-plus yields. Moreover, these countries need to extend the duration of their debt, issuing 12-18-month debt at 5%-plus yields is highly unsustainable for countries with high debt/GDP ratios and stagnant economic growth.

Meanwhile, Germany continues to...

Read full article...

More on Spain:

This could be the most important chart in the world today

Euro contagion: The crisis is spreading from Italy to Spain

Euro update: Italy and Spain are dangerously close to the "breaking point"

Topics: Spain | Bankruptcy | Euro
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