The Spanish government's successful bond auction Thursday reassured investors, pushing the euro to a one-week high against the dollar. Portugal and Italy also tested the bond market this week with their own auctions. But how much appetite for bonds do investors really have?
Just a day after a successful bond auction in Portugal, Spain hopes to raise up to $3.9 billion in its first debt auction of the year. The auction will be a key test of investor appetite for European bonds.
Just as the euro has begun recovering from Ireland's meltdown, another financial crisis is brewing in Spain. The country could be headed for a bailout or reorganization, experts say. How low could the euro go?