LONDON: Spanish and Italian bond yields rose on Friday, reversing an earlier fall, after Spain's Catalonia region said it needed financial help from the government.

"That's what caused the spike and that's what caused peripheries to get hammered," a trader said.

Spanish 10-year bond yields rose to 6.3 percent, up 12 basis points on the day and wiping out earlier falls. Italian yields also reversed their fall and safe-haven German Bunds rallied to a session high.