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Economy
In reply to the discussion: STOCKMARKET WATCH -- Wednesday, 11 July 2012 [View all]xchrom
(108,903 posts)24. Spain Is Rallying After Its Prime Minister Announces More Austerity
http://www.businessinsider.com/spanish-markets-2012-7
One of the outperforming markets this morning is Spain. That's something you don't typically hear.
Spain's Prime Minister Mariano Rajoy announced a fresh round of spending cuts and tax increases for the debt laden country.
Cuts are expected to total $80 billion.
Spain's IBEX 35 index is up 0.5 percent.
And the government's borrowing costs are down modestly. Here's a chart of the Spanish 10-year yield which is at 6.77 percent.
One of the outperforming markets this morning is Spain. That's something you don't typically hear.
Spain's Prime Minister Mariano Rajoy announced a fresh round of spending cuts and tax increases for the debt laden country.
Cuts are expected to total $80 billion.
Spain's IBEX 35 index is up 0.5 percent.
And the government's borrowing costs are down modestly. Here's a chart of the Spanish 10-year yield which is at 6.77 percent.
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