Yields on the Spanish 10-year bond crack 6% ahead of this week’s auctions

Today, the benchmark Spanish 10-year bond climbed 0.18 percentage points to 6.16% before a late rally sent the yield back down to 6.07% at the close. That still left the yield above the psychologically important 6% level. The Spanish 10-yead bond hadn’t seen 6.16% since December 1, before the European Central Bank unleashed its program of 1 trillion in 3-year loans for European banks.