MADRID: Spain sold 4.95 billion euros ($6.12 billion) of debt at an auction of four bonds on Thursday, with yields lower, bucking the market trend as markets brace for a trade war with the United States and watch for changes to ECB stimulus.
The Treasury had aimed to sell between 4.5 billion and 5.5 billion euros of bonds due 2022, 2028, 2033 and 2040.
The shortest dated paper, due Oct 31, 2022, sold 1.8 billion euros at an average yield of 0.294 percent and a bid-to-cover ratio, a measure of demand, of 1.45. That compared to a yield of 0.358 percent when the bond last sold on March 1 at a bid-to-cover of 1.9.
The April 30, 2028 bond sold 1.6 billion euros at a yield of 1.363 percent after 1.580 percent when it last ran Feb. 15. Demand for the bond was 1.3 times supply after 2.5 times last month.
The July 30, 2033 bond sold 719 million euros for an average yield of 1.875 percent after a previous yield of 2.110 percent when it last sold in February. The bond was 1.65 times covered after 1.9 times previously.
The longest-dated bond, due July 30, 2040, sold for 806 million euros at a yield of 2.167 percent. In November, the same bond sold for 2.462 percent at a bid-to-cover ratio of 1.6.
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