CHARTING SPAINs 10-YR SPREAD. xprxsy Spains 10 year spread breaks out of a 3 year channel, 4 weeks after it broke a 14-month triangle, paving the way for a retest of the 1.64% high attained on May 7, before a possible extension towards the 1.80% target. Considering the political risk in Spain (austerity measure passed by only 1 vote), soaring Spanish yields could prove the trigger for the next wave down in the euro.