US Treasury yields dipas focus shifts to Spain
Yields on US government bonds slipped on Friday as traders turned their attention to Spain's debt troubles.
New York: Yields on US government bonds slipped on Friday as traders turned their attention to Spain's debt troubles.
The yield on the 10-year Treasury note edged lower on Friday as reports emerged that a Spanish bank, which has already received bailout money, needed even more help. Bankia, the country's largest property lender, asked for nearly $24 billion (Dh88.7 billion) in support.
Like others in Europe, Spain's government has been struggling with its finances. But the Spanish government is also trying to shore up its troubled banks, which have suffered deep losses from loans made during the country's real estate boom.
The worry is that Spain could wind up needing a much larger rescue package than those given to Greece, Portugal or Ireland.
