Chart of the day: Spain enters top ten for government default risk

By Edward Harrison On Jun 12, 2012

Spain is now ranked ninth for default probability just behind Ireland, with an expected 40% chance of default in the next five years. The Spanish 10-year bond yield has fallen back to 6.70% after reaching a record euro zone high of 6.834% earlier today. This comes in just the second trading day after the Spanish bank bailout hailed as a "victory" for the euro zone by Spanish Prime Minister Rajoy.

Source: CMA Market Data

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Daily commentary: The ECB will step in soon or we will suffer another Great Depression

Welcome Back to 1931

Comments are closed.