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Spanish ten-year bonds hit 7 per cent

Level seen as psychologically important

Spanish ten-year bond yields have just gone above 7 per cent, a level often touted as psychologically important. The news follows last night's double downgrade of Spanish debt, as Moody's downgraded the country to one level above junk.

Chart via FT alphaville:

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.