Investing.com - Spain saw borrowing costs decline to the lowest level on record at an auction of ten-year government bonds on Thursday, amid easing concerns over the health of the euro zone’s fourth-largest economy.
Spain’s Treasury sold €2.65 billion worth of ten-year government bonds at an average yield of 3.059% earlier in the day, down from 3.291% at a previous auction last month.
In addition, Spain sold €1.58 billion of five-year debt at an average yield of 1.663%, down from 1.869%. Madrid also sold €1.35 billion of three-year debt at a yield of 1.022%, down from 1.331% at a previous auction.
In total Spain’s Treasury sold €5.56 billion worth of debt, above the full targeted amount of €5.50 billion.
The yield on Spain's 10-Year bond stood at 3.076% following the auction, while the euro held on to modest gains against the U.S. dollar, with EUR/USD rising 0.14% to trade at 1.3836.
Meanwhile, European stock markets remained higher. Spain’s IBEX 35rose 0.8%, the DJ Euro Stoxx 50 advanced 0.55%, France’s CAC 40 picked up 0.75%, Germany's DAX advanced 0.65%, while London’s FTSE 100 tacked on 0.5%.