Spanish and U.K. Benchmark Bond Yields Reach Record Lows

Investing.com reports that on Tuesday, the yields for 10-year bonds in Spain and the U.K. reached unprecedented lows. The yield on the benchmark Spanish bond fell below 1% for the first time, dropping to a low of 0.973%. Meanwhile, the U.K. 10-year Gilt also hit a record low at 0.592%, down 0.16% to 0.611% by 06:45 ET.

A member of the Bank of England’s policy committee indicated on Tuesday that further easing could be a possibility if the economy continues to weaken. Additionally, the European Union announced the cancellation of excessive budget deficit fines for both Spain and Portugal. In Spain, efforts to form a government are ongoing following two inconclusive general elections.