LONDON (MarketWatch) -- Spain's successful auction of a 5-year bond helped nudge the euro off 14-month lows. Spain sold 2.23 billion euros of five-year notes with a bid-to-cover ratio of 2.35. The maximum yield was 3.58%.
But
Spain Pays Highest Yield Since 2008 in Five-Year Bond Auction
And
But the spread of investor jitters in the past 24 hours, affecting markets as distant as yen swaps in Tokyo, suggests market conditions could deteriorate as rapidly as they did during the global financial crisis of 2007-2009.
Stay tuned.
European and UK Government Debt Auction Calendar