Spain sold more debt than it had targeted at a triple-bond sale on Thursday at borrowing costs not seen since 2010, as investors search for high returns on hopes of an ease in central bank monetary policy and extra liquidity. The Treasury sold 4.7 billion euros ($6.1 billion) in medium- and long-term debt beating a target of between 3.5 billion and 4.5 billion euros.
Including this auction, Spain has sold more than 43 percent of its 2013 bond issuance target. The benchmark 10-year bond, due January 31, 2023, sold at an average yield of 4.612 percent, the lowest rate since September 2010 and compared with 4.898 percent when it last ran less than a month ago.