MW: Spanish 10-year bond yield marks fresh record low
By Ben Eisen
NEW YORK (MarketWatch) -- Spanish government bonds rallied on Monday, sending the benchmark 10-year yield to a fresh record low. The 10-year Spanish BX:TMBMKES-10Y -1.31% yield was last down 3.5 basis points on the day at at 2.509%, after hitting an intraday low of 2.499%, according to Tradeweb. Investors have been eager to buy the bonds of Europe's struggling nations as they search for yield amid low global interest rates. The Portuguese 10-year government bond BX:TMBMKPT-10Y -2.04% yield also dropped 7.5 basis points to 3.587%, following an upgrade of the nation's credit rating by Moody's Investors Service on Friday. The country's sovereign debt now carries a Ba1 rating, the highest junk rating. The Italian 10-year BX:TMBMKIT-10Y -1.07% yield was down 2.5 basis points on the day at 2.695%.
