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Justin Kuepper

Eurozone Politics Reigniting Concerns

By February 4, 2013

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Spanish 10-year yields jumped 19 basis points overnight to 5.4% after the country's opposition Socialist Party called for the resignation of Prime Minister Mariano Rajoy. Commerzbank is predicting a new target 400 basis point spread between Spanish and Germany bonds.

After revelations that at least a dozen member of the PM's People's Party received payments from a slush fund operated by its former treasurer, a recent poll showed the lowest support on record for the center-right political party, although allegations may be unfounded.

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