Spain raised $2.6 billion in a bond sale this morning, but the higher interest rate of 6.1 percent shows that investors are still concerned that Spain has not wiped their hands clean of the financial mess just yet.
Spain's government raised $2.6 billion at a bond auction this morning, but their financial crisis still looms with the banking system and government propping each other up.
Spain nears a credit crisis, worldwide markets are down, and U.S. borrowing costs near zero. Some economists argue this economic instant is the best time for the U.S. government to invest in infrastructure projects.
It used to be a pipe dream of some European officials just a year ago. Now, German Chancellor Angela Merkel is pushing for a central authority to regulate all the finances of countries that use the euro.
Stocks are down all over the world this morning as investors have their first chance to react to the Labor Department's May jobs report that came out on Friday. But the negative market sentiment isn't just about jobs.
Spain's Deputy Prime Minister, Soraya Saenz, will head to Washington to discuss ways to resolve the Spanish banking crisis with Treasury Secretary Tim Geithner.
As investors cope with uncertainty in Europe, the interest on the 10-year Treasury note, the benchmark cost of U.S. debt, hit a record low of 1.6 percent.
The European Commission recommended today that Europe bring its banking system into closer union, so that stronger parts of the EU can help out weaker links without disrupting individual governments.
With borrowing costs spiking for Spain and Italy, the Obama administration has sent a top treasury official to Europe to encourage European leaders to take decisive action on their financial mess.
