Yields and basis point (bp) movements of some of the most-watched 10-year bonds this afternoon:

UK: 2.40% (-2.1bp)
US: 1.79% (-4.0bp)
Germany: 1.60% (-2.8bp)
France: 2.208% (-3.6bp)
Spain: 5.358% (+2.1bp)
Italy: 4.757% (-0.6bp)

[There are 100bp to a percentage point]

Spanish bond yields rose on Friday after the country's Prime Minister, Mariano Rajoy, once again denied that the government is looking for a bailout.

"I'm not going to take into account any pressure that people might exert on me, but frankly no one is doing that, he told reporters during the EU summit in Brussels.

Many believe that it is only a matter of time before Spain officially requests aid after the European Central Bank (ECB) said that its bond-buying programme was open to those who request assistance.

Yields on Italian notes were heading the other way after European leaders settled on a compromise to have a legal framework for a single bank supervisor ready by the start of next year.

The borrowing rate on Italian 10-year bonds was down just 0.6bp on the day at 4.757%; but earlier in the session it had reached 4.70%, its lowest level since March 9th.

Meanwhile, US Treasuries, UK gilts and German bunds were all firmer as investors showed caution as EU leaders met to tackle the crisis and built positions in safer assets.

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