Spain auctions bonds at lower yields on progress in the economy . . . . . . . . The Spanish Treasury sold 4 billion euros of five- and 10-year bonds at an auction that witnessed the selling of the maximum target at a lower yield. Spain raised 1.6 billion euros from the swelling of 2018 securities at a borrowing cost of 3.447 percent, lower than 3.561 percent at the prior auction. Also, the selling of the 2023 papers has saw a retreat in yield to 4.503 percent from 4.723 percent at an auction held in July. The Treasury auctioned 2.4 billion euros of the 10-year bonds with a bid-to-cover ratio of 2, down from 2.3 times recorded in July. The drop in yields is largely attributable to the recent progress in Spanish data which suggested the economy is gathering momentum. #egyptyard
Posted on: Thu, 05 Sep 2013 09:48:41 +0000