Investing.com - Spain saw 12-month borrowing costs fall to the lowest level on record at an auction of government bonds on Tuesday, as signs of progress in handling the euro zone’s debt crisis boosted investor confidence.
Spain’s Treasury sold EUR3.71 billion worth of 12-month government bonds at an average yield of 0.678% earlier in the day, an all-time low and down from 0.961% at a similar auction last month.
In addition, Spain sold EUR840 million of six-month debt at an average yield of 0.494%, down from 0.672% at a similar auction last month.
In total Spain’s Treasury sold EUR4.55 billion worth of debt, above the full-targeted amount of EUR4.5 billion.
The yield on Spanish 10-year bonds stood at 4.080% following the auction.
Meanwhile, the euro remained little changed against the U.S. dollar, with EUR/USD inching up 0.03% to trade at 1.3510.
European stock markets remained lower. Spain’s IBEX 35 Index fell 0.8%, the EURO STOXX 50 declined 0.75%, France’s CAC 40 dropped 0.9%, Germany's DAX shed 0.4%, while London’s FTSE 100 dipped 0.55%.
Spain’s Treasury sold EUR3.71 billion worth of 12-month government bonds at an average yield of 0.678% earlier in the day, an all-time low and down from 0.961% at a similar auction last month.
In addition, Spain sold EUR840 million of six-month debt at an average yield of 0.494%, down from 0.672% at a similar auction last month.
In total Spain’s Treasury sold EUR4.55 billion worth of debt, above the full-targeted amount of EUR4.5 billion.
The yield on Spanish 10-year bonds stood at 4.080% following the auction.
Meanwhile, the euro remained little changed against the U.S. dollar, with EUR/USD inching up 0.03% to trade at 1.3510.
European stock markets remained lower. Spain’s IBEX 35 Index fell 0.8%, the EURO STOXX 50 declined 0.75%, France’s CAC 40 dropped 0.9%, Germany's DAX shed 0.4%, while London’s FTSE 100 dipped 0.55%.