Lingering Fears Push Spanish Short-Term Borrowing Costs Up

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In an auction of short-term debt, the Spanish Treasury had to pay interest of 5.074 percent to attract buyers. That compared with a yield of 2.985 percent, itself a lofty level, only a month earlier. And it came after Spain's 10-year bond on Monday reached its highest interest rate since the creation of the euro currency union. Spain plans to test the market again on Thursday, with an auction of longer-term bonds.

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