Spanish yields rise before debt placement

LONDON: Spanish government bond yields rose on Wednesday, driven by upcoming supply and persistent uncertainty over whether the country will seek an international bailout to tackle its debt problems.

The 10-year yield rose 9 basis points on the day to 5.93 percent, adding to gains of a similar magnitude seen in the previous session and closing in on the closely-watched 6 percent level.

Between Oct. 11 and Oct. 17, Spain will carry out a 4.86 billion euro private placement of bonds to finance part of the country's regional liquidity fund, issuing debt that will mature in 2015, 2016 and 2017.