Spanish borrowing costs surge after violent Catalonian referendum

Reuters

LONDON, Oct 2 (Reuters) - The gap between Spanish and German government borrowing costs was its widest in nearly four months on Monday as investors were unsettled by a violent police crackdown on an illegal independence vote in Catalonia.

Regional officials said 90 percent of voters in Sunday's ballot favoured breaking away from Spain, opening the door to a unilateral declaration of independence in the industrial powerhouse which accounts for a fifth of Spain's economy.

Spanish government bond yields rose 7 basis points to 1.69 percent when trading began on Monday, according to Tradeweb data, their highest since mid-July and outstripping a 2 basis point rise in benchmark German equivalents.

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