Juan Esquer talks about the interest rates in Spain

The Spanish debt yield curve has a very dangerous profile. The three-month debt yield is at 2.2%, while the two-year bond is now at 6.3% and the rates in the secondary market are over 7% in all stretches of maturities over five years.

Juan Esquer, partner of GBS Finance, says: “Spain and Italy cannot support these interest rates much longer. If a decision is not made, market volatility will increase.”

OFFICIAL STATEMENT – IDENTITY THEFT ALERT

Madrid, October 22, 2025

Capital Markets AV SA, a regulated entity and part of the GBS Finance Group, hereby informs that we have detected an attempt at identity theft through the unauthorized use of our name and the creation of a fraudulent website falsely claiming to represent our firm.

We would like to state that no security breach has occurred in our systems or official communications. This fraudulent attempt was carried out by third parties unrelated to our organization, with the aim of misleading potential investors or clients.

In response to this situation, we have taken the following actions:

  • Filed a formal complaint with the National Securities Market Commission (CNMV) and the competent authorities.
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