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© Reuters. The Spanish bond exceeds 3.6% and reaches its highest level since December
Madrid, Feb 28 (.).- The yield of the ten-year Spanish bond, the benchmark, continues to climb in recent sessions, and this Tuesday it reached 3.616%, its highest level since the end of December.
According to Bloomberg data consulted by Efe, at 9:45 a.m., the yield of the Spanish bond rises to that 3.616%, from 3.535% at which it closed the previous session.
In the same way, the yield of the German ten-year bond, considered the safest in Europe, climbs to 2.645%, from the previous 2.578%, reaching maximums since July 2011.
The , the difference between the German and the national bond, reaches 97 basis points.
The yield on European sovereign bonds is trading higher after fears that central banks will continue raising interest rates to control inflation amid an economy that seems to be more robust than expected.
Just today, it has been known in Spain that annual inflation has risen two tenths in February, up to 6.1%, due to the rise in electricity and food.
Likewise, according to advance data from the consumer price index (CPI), the annual rate of underlying inflation has also risen by two tenths, up to 7.7%, reaching the highest figure since December 1986.
In France it was also known this Tuesday that year-on-year inflation rose two tenths in February to 6.2%.
Renta4 analysts explain that any data that suggests an intensification of inflationary pressures or less moderation than expected will be interpreted as a need for higher rates for a longer period by the European Central Bank (ECB).
In this context, the yield on sovereign bonds from other countries considered peripheral to Europe also increased this Tuesday.
The Italian ten-year bond advances to 4.522%, from the previous 4.413%, and the Portuguese, to 3.515%, compared to 3.439% at yesterday’s close.
The yield of the sovereign debt of Greece also climbs to 4.447%, from 4.373% on Monday.
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