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Eurozone Watch: Spain yields fall back on ESM hopes

Yields on Spanish government debt fell on Thursday morning amid reports that the European Stability Mechanism may offer direct support to failing banks

Yields on Spanish sovereign debt fell back on Thursday morning amid reports that the European Stability Mechanism might be prepared to offer direct support to struggling banks

The decline in yields followed a sharp rise in Spanish bond yields Wednesday following Bankia's request for a €19bn state bail-out.

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