World

Bond woes overshadow Spain's election

Spain's ruling socialist party is expected to suffer a crushing defeat at the hands of the centre right Popular party in Sunday's election. The first job for a new government will be convincing the bond markets that it can engineer a recovery and that won't be easy after Thursday's disastrous Spanish bond auction. Victor Mallet, Madrid bureau chief, and Paola Subacchi, research director at Chatham House, talk to the FT's Daniel Garrahan.