4 Jul 2013
Spanish debt auction draws good demand, yields rise
FXstreet.com (Barcelona) - The Spanish Tesoro Público held a debt auction on Thursday during which it sold a total of 4 billion euros worth of 3- and 5-year bonds, meeting the maximum target.
1.02 billion euros of bonds maturing in 2016 were auctioned at an average yield of 2.875%, compared with 2.706% seen at the previous auction. 3 billion euros of bonds maturing in 2018 were sold at an average yield of 3.792% versus the previous 3.592%.
Following the auction, the spread between 10-year Spanish government bonds and the benchmark 10-year German bund widened to 315bps from 313bps.
1.02 billion euros of bonds maturing in 2016 were auctioned at an average yield of 2.875%, compared with 2.706% seen at the previous auction. 3 billion euros of bonds maturing in 2018 were sold at an average yield of 3.792% versus the previous 3.592%.
Following the auction, the spread between 10-year Spanish government bonds and the benchmark 10-year German bund widened to 315bps from 313bps.