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Spanish Sovereign Bond Yields Top 6% as Debt Crisis Flares

Spanish bonds lead a slump among the euro-region’s higher-yielding government securities, after a minister from the Iberian nation called on the European Central Bank to buy its debt to stem the financial-market turmoil.

(BLOOMBERG) New York - Ten-year Spanish yields jumped to a four-month high before the nation sells 12- and 18-month bills tomorrow and bonds due in October 2014 and January 2022 on April 19. Italian notes slid and Portuguese 10-year securities declined for an 11th consecutive day. German bund futures rose to a record as investors sought the safest assets.

"Clearly investors are again getting worried that Spain may not be able to overcome its problems without external help," said Elwin de Groot, a market economist at Rabobank Nederland in Utrecht. "One thing that could stop this is ECB intervention but they are not extremely keen on taking that role at this point in time. Sentiment is starting to crumble."

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Geopolitics

Modi Is Wrong: Russia's War Also Creates Real Risks For India

By shrugging aside Russia’s aggression, India has shown indifference to fears that China could follow Russia’s example.

Photo of India's Prime Minister Narendra Modi and Russian President Vladimir Putin

India's Prime Minister Narendra Modi Visits Russia

Anita Inder Singh*

-OpEd-

NEW DELHI — India is wrong to dismiss Russia’s war in Ukraine as Europe’s problem. The illegality and destructiveness of the invasion, and consequential food and energy crises, have global ramifications.

Stay up-to-date with the latest on the Russia-Ukraine war, with our exclusive international coverage.

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This explains why 143 out of the 193 member-states of the UN General Assembly voted against recognizing Russia’s illegal annexation of four Ukrainian regions after holding sham referenda there. Ninety-three voted in favor of expelling Russia from the UN Human Rights Council.

India has abstained from every vote in the UN condemning Russia’s aggression in Ukraine. The reason? Moscow is India’s top arms supplier and some 70% of India’s military platforms are of Russian origin.

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