Spain’s worrisome borrowing costs

By Aaron Smith @CNNMoneyInvest June 19, 2012

Spanish bond yields are still trading at anxiety-inducing heights, and investors can't stop thinking about the possiblity of a bailout.

NEW YORK (CNNMoney) — Spain’s borrowing costs continued to rise Tuesday, with the yield on the 10-year bond hitting another record high above 7%.

Worries that Spain may need a bailout of its own is fueling investor anxiety.

The yield on the 10-year bond spiked to 7.27% early Tuesday — its highest level since the euro debuted in 1999 — according to Tradeweb, before easing slightly to 7.11%.

The 7% mark is the first warning sign that a country may be headed toward needing financial rescue.

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