Yields keep dropping at Spanish Treasury auction

Date: Thursday 02 Feb 2012

Yields on Spanish medium-term debt fell again at a Treasury auction this morning, although the initial market reaction has been quite tepid.

As an aside, unemployment (177,000) rose strongly during the month of January.
That when some economists had been expecting a rise nearer to 125,000. Upon seasonal adjustment, nonetheless, the increase was a smaller 45,500.

The results of the Spanish Treasury’s auctions have been:

€2.52bn of July 2015 debt sold at a yield of 2.861% (Previous: 3.384%) and with a bid to cover ratio of 1.63, versus 1.80 the last time around.

€984m of October 2016 debt sold at a yield of 3.455% (Previous: 4.021%) and with a bid to cover ratio of 3.57, versus 3.24 the last time around.

€1.05bn of January 2017 bonds issued at a yield of 3.565% (Previous: 5.544%) and with a bid to cover ratio of 2.70, the same as the last time around.

AB

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