October 12, 2018 / 11:51 AM / a month ago

Spanish bond yield hits one-year high, analysts cite budget plans as one driver

LONDON, Oct 12 (Reuters) - Spanish 10-year government bond yields hit their highest point in a year with two analysts citing the minority government’s planned budget measures as one driver.

Spain’s Socialists, who hold a minority in parliament, reached a budget deal with anti-austerity party Podemos this week that includes raising the minimum wage and tax hikes.

Spain’s 10-year bond rose four basis points to a one-year high of 1.69 per cent on Friday and the spread over Germany was at its widest since August 31 at 116.5 bps.

Portuguese 10-year government bond yields were also up, rising to 2.04 percent, its highest point since June 8 and up two basis points on day. (Reporting by Virginia Furness, Editing by Abhinav Ramnarayan)

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