Greece in Spotlight Drags Italy Down as Spain Misses Sale
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Greece’s government debt is back in the spotlight and investors are looking for the exit.
As the four-day rout in Greek bonds sent yields to the highest since January, the selloff started to infect nations from Ireland to Portugal and even larger countries such as France. In Spain, a debt auction fell short of the government’s maximum target, and European stocks extended their longest losing streak since 2003. German 10-year bunds fell for the first time in three days, pushing the yield on the euro region’s benchmark securities up from a record low.