Spain's borrowing costs hit euro-era record

Euro notes, in triangles, holding each other up Spain's borrowing costs have risen over the last few days Spain's borrowing costs have risen at its latest bond auction, on continued fears about the eurozone debt crisis. The average yield on 10-year traded Spanish government bonds soared from 5.433% in October to 6.975% - a record since the euro was created in 1999. A high yield indicates investors may not have confidence in the government to fully repay its debts. The Spanish government sold 3.56bn euros (£3.04bn; $4.79bn) worth of bonds out of a maximum target of 4bn euros. A similar auction in France saw French short-term borrowing costs - for its two and five-year bonds - also rise.