Spanish yields hit 15-year record.

Yields soared in Spain's latest bond auction, in which it sold €3.04B in 12- and 18-month debt. The average rate on the 1-year paper spiked to 5.07% from 2.99% at the previous sale in May, while the yield on the 18-month jumped to 5.11% from 3.3%. The rate on the 12-month is the highest since 1997. The sale came amid a report that a second, more detailed audit of Spanish banks has been delayed until September from July.