Spanish Bonds Head for Their Worst Week Since August
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Spain’s 10-year bonds had their worst week since August after a government report showed the nation’s jobless rate climbed to a record, adding to evidence the economy is contracting.
Two-year notes also dropped this week after the central bank said three days ago that gross domestic product shrank for a fifth quarter. German bunds rose today as French household sentiment worsened, boosting demand for the region’s safest assets. Spanish securities pared their weekly decline after the European Union and the European Central Bank said the bailout of the country’s banks was “on track”.