Spanish short-term bond yields rise

LONDON: Spanish two-year bond yields rose on Monday as low expectations of further progress on the euro zone debt crisis at a meeting of finance ministers later in the day weighed on sentiment towards the region's lower-rated issuers.

The Spanish two-year government bond yield rose 24 basis points on the day to 5.18 percent, while the 10-year yield rose 5.3 bps to stand at 7.03 percent.

The negative sentiment also pushed yields on Italian government bonds higher, with the 10-year up 6.5 bps at 6.1 percent and the two-year rising 14 bps to 4.26 percent.