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Posted: Jun 19, 2012 2:48:26 am
lifeshoes12



The brief afterglow from Greece's vote Sunday to try to remain in the euro was quickly extinguished by a cascade of bad news out of Spain that again rattled faith in the currency bloc's ability to support its most troubled members. U.S. stock futures fell, erasing earlier Supra Skytop gains, as initial relief over the pro-austerity party's narrow victory in Greece's elections gave way to increasing worries about Spain. Paul Vigna has details on The News Hub. Photo: AP. Fresh data from Spain's central bank showed the country's lenders were sitting on Supra For Sale the highest level of bad loans in 18 years and that their deposits continued to leak away. The gloomy figures—and worries that consultants scouring the creaky banking system will find yet more problems—helped drive Spanish bond yields deep into territory that is widely viewed as unsustainable.
The yield on the Spanish 10-year bond was at 7.18% late Monday in London, an unwelcome euro-era record for the zone's fourth-largest Supra Shoes economy. The worrying signal demonstrates how Spain's troubles continue despite what plays out in Greece or elsewhere in the bloc. The Spanish stock market fell 3%, and Italian stocks slid 2.8%. Italian bonds weakened somewhat and other global markets largely shrugged off the Athens results. Asian equities rose, but in the U.S. the Dow Jones Industrial Average slipped 0.2%.
"Spain is the bigger uncertainty and until there is Supra TK Society greater clarity around Spanish bank recapitalizations and sovereign funding costs, risk in financial markets will remain elevated," said Jeffrey Rosenberg, chief investment strategist for fixed income at asset manager BlackRock Inc. in New York. Greeks voted Sunday for pro-Europe parties who will try to continue the troubled country's bailout Supra Vaider program, relaxing fears of a popular uprising that could have threatened Greece's place in the euro zone. Many analysts had feared that a vote for antibailout forces in Greece could cause sudden deposit or capital flights there that would quickly spill over to Spain.

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