By Barbara Kollmeyer
MADRID (MarketWatch) -- Euro-supportive comments from European Central Bank President Mario Draghi continued to push down yields for Spanish and other peripheral bond yields. The yield on Spain's 10-year government bond ES:10YR_ESP -5.58% plunged 40 basis points to 6.94%, while the yield on the two-year note ES:2YR_ESP -10.91% sank around 80 basis points to 5.36%. Draghi said earlier Thursday the ECB would do all that is needed to save the single currency, sparking a rally for the euro, Europeaan stock markets and U.S. futures. The Spain IBEX 35 index XX:IBEX +3.92% shot up 3.8% to 6,231.70, led by a 7% rally for Banco Santander SA ES:SAN +6.90% SAN +3.07% . The yield on Spain's 10-year bond has climbed as high as 7.6% in recent days as speculation intensifies the country may need a full bailout.
