Spanish Banks Start the New Year on a Positive Note

Government bond yields in Europe have declined rather rapidly in the new year-- and Spain is no exception:



Earlier today, the country followed in the footsteps of Ireland as its first auction of 2014 produced better than expected results.
Perhaps, then, it is no surprise that the leading sector in MSCI Europe in the first week of the new year has been Financials:



And, among the group financial companies, the top five performers include three Spanish banks, all of which have posted double-digit returns:



Can the recent surge in performance continue?