October 3, 2016 / 7:26 AM / a year ago

Spain's 10-year government bond yield falls to record low

LONDON, Oct 3 (Reuters) - Spain’s 10-year government bond yield fell to a new record low on Monday, on hopes that the resignation of the Socialist party’s leader at the weekend would help pave the way for the formation of a new government.

The leader of Spain’s Socialists, Pedro Sanchez, resigned on Saturday after losing a vote triggered by a party revolt, a step that could pave the way for the formation of a new government and end a nine-month political deadlock.

Spain’s 10-year bond yield fell to record low at 0.872 percent, down 1.6 basis points on the day. (Reporting by Dhara Ranasinghe; Editing by Alison Williams)

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