Investing.com - Spain saw borrowing costs edge lower at an auction of five- 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 EUR1.017 billion worth of ten-year government bonds at an average yield of 4.723% earlier in the day, down from 4.765% at a previous auction last month.
In addition, Spain sold EUR926 million of five-year debt at an average yield of 3.735%, down from 3.792% at a similar auction last month. Madrid also sold EUR1.12 billion of three-year debt at an average yield of 2.768%.
In total Spain’s Treasury sold EUR3.06 billion worth of debt, above the full targeted amount of EUR3 billion.
The yield on Spanish 10-year bonds stood at 4.742% following the auction.
Meanwhile, the euro held on to modest losses against the U.S. dollar, with EUR/USD shedding 0.06% to trade at 1.3117.
European stock markets remained higher following the auction. Spain’s IBEX 35 Index rose 0.7%, the EURO STOXX 50 added 0.3%, France’s CAC 40 gained 0.3%, Germany's DAX was flat, while London’s FTSE 100 eased up 0.4%.
Spain’s Treasury sold EUR1.017 billion worth of ten-year government bonds at an average yield of 4.723% earlier in the day, down from 4.765% at a previous auction last month.
In addition, Spain sold EUR926 million of five-year debt at an average yield of 3.735%, down from 3.792% at a similar auction last month. Madrid also sold EUR1.12 billion of three-year debt at an average yield of 2.768%.
In total Spain’s Treasury sold EUR3.06 billion worth of debt, above the full targeted amount of EUR3 billion.
The yield on Spanish 10-year bonds stood at 4.742% following the auction.
Meanwhile, the euro held on to modest losses against the U.S. dollar, with EUR/USD shedding 0.06% to trade at 1.3117.
European stock markets remained higher following the auction. Spain’s IBEX 35 Index rose 0.7%, the EURO STOXX 50 added 0.3%, France’s CAC 40 gained 0.3%, Germany's DAX was flat, while London’s FTSE 100 eased up 0.4%.