Investing.com - Spain saw borrowing costs decline at an auction of two-and ten-year government bonds on Thursday, as traders continued to monitor steps in handling the euro zone's ongoing debt crisis.
Spain’s Treasury sold EUR1.49 billion worth of ten-year government bonds at an average yield of 4.517% earlier in the day, the lowest since September 2010 and down from 4.612% at a previous auction.
In addition, Spain sold EUR1.53 billion of two-year debt at an average yield of 1.903%, down from 2.275% at a similar auction last month. Madrid also sold EUR1.01 billion of three-year debt at an average yield of 2.706%.
In total Spain’s Treasury sold EUR4.02 billion worth of debt, above the full targeted amount of EUR4 billion.
The yield on Spanish 10-year bonds stood at 4.488% following the auction.
Meanwhile, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.27% to trade at 1.3125.
European stock markets remained higher following the auction. Spain’s IBEX 35 Index rose 0.7%, the EURO STOXX 50 advanced 0.3%, France’s CAC 40 tacked on 0.3%, Germany's DAX edged up 0.2%, while London’s FTSE 100 added 0.1%.
Spain’s Treasury sold EUR1.49 billion worth of ten-year government bonds at an average yield of 4.517% earlier in the day, the lowest since September 2010 and down from 4.612% at a previous auction.
In addition, Spain sold EUR1.53 billion of two-year debt at an average yield of 1.903%, down from 2.275% at a similar auction last month. Madrid also sold EUR1.01 billion of three-year debt at an average yield of 2.706%.
In total Spain’s Treasury sold EUR4.02 billion worth of debt, above the full targeted amount of EUR4 billion.
The yield on Spanish 10-year bonds stood at 4.488% following the auction.
Meanwhile, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.27% to trade at 1.3125.
European stock markets remained higher following the auction. Spain’s IBEX 35 Index rose 0.7%, the EURO STOXX 50 advanced 0.3%, France’s CAC 40 tacked on 0.3%, Germany's DAX edged up 0.2%, while London’s FTSE 100 added 0.1%.