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Are Markets Overreacting By Punishing Spain?

Wednesday, 25 Jul 2012 | 11:00 AM ET

John Wraith, fixed income strategist at BofA Merrill Lynch Global Research, told CNBC, "The point about Spain having better fiscal circumstances then some countries in the euro zone is a valid one but the reason yields are at these levels is not based on the same sort of analysis that would usually apply it is due to the structure of the euro zone."