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Two-year Spanish bond yields were 21 basis points higher at 3.775 percent. Ten-year yields were 5 basis points higher at 6.95 percent.
"It's not clear that Spain is ready to ask for a bailout yet ... Now it looks more likely then not that if they do it will be a good few weeks from now," a trader said.
"I think that's introduced an element of uncertainty which probably reflects why there has been a slight retracement. But I see it as slight. With such a mammoth move, there is always a temptation to take profit."