Spanish bondholders to face Irish-style haircuts
The current crisis in Spain will result in Spanish bank bondholders taking severe haircuts, after a similar scenario in Ireland last year, Henderson Global Investors says.
Yesterday, yields on benchmark 10-year Spanish bonds once again moved into dangerous and unsustainable territory above 7%. More worryingly, the country's 2-year bonds saw yields jump by 50bps in a single...
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