by Calculated Risk on 6/18/2012 08:59:00 AM

From the WSJ: Spanish Yields Surge; Greek Relief Wanes

Spain's 10-year government bond yield soared above 7% and equities lost early gains ...

"Greek election results are unlikely to resolve euro-zone uncertainty," said Barclays. "Instead, the focus should shift to the June 28-29 EC summit, the likely renegotiation of the Greek austerity package, and to Spanish yields."

Here are the Spanish and Italian 10-year yields from Bloomberg. The Spanish 10 year yield is up to 7.28%, and the Italian 10 year yield is at 6.16%.

Note: The preliminary results of the independent Spanish Bank Stress Tests are due today. This is the results of the tests by Oliver Wyman Ltd. and Roland Berger Strategy Consultants.

On Thursday, June 21st, there is a meeting of the euro zone finance ministers, and the following week, starting on June 28th, is a two day European summit in Brussels.