Spain stumbles over funding finish line but bail-out queries press
In what had looked unlikely at certain points this year, Spain managed to hit its 2012 funding target this week, pushing itself over the line with an auction raising just under €4.8bn. But the sale was not a resounding success — Spain’s bonds sold off afterwards and took Italy’s with it — and could pile on yet more pressure on Spain to apply for a bail-out.
The auction on Thursday produced Spains worst day of trading in the government bond markets since the Galician elections on October 21. The sovereigns 10 year yields were up 16bp by Thursday afternoon and Italys yields also rose.
"You can argue that Spains problems are academic, but Italys
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