After ECB booster, Spain sees cost of borrowing fall further

Spain saw its cost of borrowing fall further, a day after the European Central Bank unveiled a new bond-buying program that is largely designed to keep a lid on the country's borrowing rates.Investors think Spain will make a formal request to tap the new program within weeks, which could ease the pressures in the eurozone's fourth largest economy.Spanish officials have given no guidance on when they could make a formal request for the ECB to buy the nation's bonds. However, expectations it will have had a marked impact on its borrowing rates over the past few weeks.The yield on Spain's ten-year bond fell another 0.21 percentage point Friday to 5.80 percent, the first time it's gone below 6 percent since May. A rate above 7 percent is widely-considered unsustainable in the long-run.