Spain's Allure Unsullied by Bond Writedown Clauses

Spain's Allure Unsullied by Bond Writedown Clauses

Angel Navarrete/Bloomberg

Spain’s 10-year bond yield has tumbled from a euro-era record of 7.75 percent since ECB President Mario Draghi’s July 26 pledge to do “whatever it takes” to defend the euro, backed up in September by the announcement of a plan to buy short-dated securities of nations that request help.