Investors flee Spanish bonds

Tim Wallace
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THE SPANISH government saw borrowing costs jump sharply in a €2.2bn (£1.8bn) bond auction yesterday, as investors fled the risky assets.

Yields on five-year debt hit a euro-era high of 6.072 per cent, up from 4.96 per cent a month ago.

Meanwhile French government borrowing costs dropped as investors favoured the safer nation.