Investing.com - Spain saw borrowing costs fall to the lowest level since September 2010 at an auction of ten-year government bonds on Thursday, as investors looked ahead to a summit of European Union finance ministers due to begin later in the day in Brussels.
Spain’s Treasury sold EUR1.06 billion worth of ten-year government bonds at an average yield of 4.098% earlier in the day, down from 4.164% at a previous auction last month. In addition, Spain sold EUR1.49 billion of five-year debt at an average yield of 2.697%, down from 2.722% at a similar auction last month.
In total Spain’s Treasury sold EUR2.55 billion worth of debt, above the full targeted amount of EUR2.5 billion.
The yield on Spanish 10-year bonds stood at 4.129% following the auction. Meanwhile, the euro held on to modest losses against the U.S. dollar, with EUR/USD dipping 0.04% to trade at 1.3681.
European stock markets remained higher following the auction. Spain’s IBEX 35 Index rallied 1.9%, the EURO STOXX 50 surged 1.75%, France’s CAC 40 jumped 1.5%, Germany's DAX advanced 1.5%, while London’s FTSE 100 rose 0.9%.
Spain’s Treasury sold EUR1.06 billion worth of ten-year government bonds at an average yield of 4.098% earlier in the day, down from 4.164% at a previous auction last month. In addition, Spain sold EUR1.49 billion of five-year debt at an average yield of 2.697%, down from 2.722% at a similar auction last month.
In total Spain’s Treasury sold EUR2.55 billion worth of debt, above the full targeted amount of EUR2.5 billion.
The yield on Spanish 10-year bonds stood at 4.129% following the auction. Meanwhile, the euro held on to modest losses against the U.S. dollar, with EUR/USD dipping 0.04% to trade at 1.3681.
European stock markets remained higher following the auction. Spain’s IBEX 35 Index rallied 1.9%, the EURO STOXX 50 surged 1.75%, France’s CAC 40 jumped 1.5%, Germany's DAX advanced 1.5%, while London’s FTSE 100 rose 0.9%.