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February 04, 2013 at 08:40 AM EST
Pre-Market Primer: European Political Uncertainty Clouds Markets
Stock futures signaled a lower open this morning after an economy-fuelled rally on Friday as European concerns come into focus. Spanish Prime Minister Mariano Rajoy is facing calls to resign on allegations that he and his political party received illegal kickbacks. The country's bond yields rose this morning after news of the scandal broke. The 10-year Spanish bond yields 5.34% 13 basis points higher than Friday. With corruption as a backdrop Spaniards found out today that unemployment is continuing to rise. In January another 132 000 workers in the country fell into joblessness. Bond yields are also up in ...
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