Legal & General Shuns Spain Until ECB Buys Bonds - Bloomberg: "Legal & General Investment Management won’t lend more of its $500 billion to Spain unless the European Central Bank takes the lead by buying the nation’s bonds.
The extra yield investors demand to hold Spain’s 10-year debt rather than German bunds climbed to a euro-era high on Nov. 30 as Ireland’s bailout stoked speculation that more nations will seek aid from the European Union. The ECB has bought Irish, Portuguese and Greek securities, though not Spanish, according to traders with knowledge of the situation who declined to be identified because the transactions are confidential."
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