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21 Mar 2013
Spain sees yields drop at auction
FXstreet.com (Barcelona) - Spain sold 4.513 billion euros of bonds on Thursday, beating the targeted 3-4 billion and cutting its borrowing costs on 10-year, 5-year and 2-year paper.
The Spanish Treasury managed to sell 2.33 billion euros of bonds maturing in 2023, 1.03 billion of bonds maturing in 2018 and 1.16 billion of bonds maturing in 2015.
The average yield on the 10-year bill was 4.898%, down from 4.917% seen at the previous auction. On the 5-year paper it fell to 3.557% from 3.572% and on the 2-year bonds it dropped to 2.275% from 2.632%.
The Spanish Treasury managed to sell 2.33 billion euros of bonds maturing in 2023, 1.03 billion of bonds maturing in 2018 and 1.16 billion of bonds maturing in 2015.
The average yield on the 10-year bill was 4.898%, down from 4.917% seen at the previous auction. On the 5-year paper it fell to 3.557% from 3.572% and on the 2-year bonds it dropped to 2.275% from 2.632%.