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Spanish meets top end of target at bond auction

The Spanish Tesoro Público held a debt auction on Tuesday during which it sold a total of 4 billion euros worth of 3- and 9- month Letras, meeting the target of 3-4 billion euros.

0.89 billion euros of 3-month bonds were auctioned at an average yield of 0.421%, compared with 0.441% seen at the previous auction. The bid-to-cover ratio was 5.76 vs 4.18 at the January sale. The 9-month bonds were sold at an average yield of 1.144%.

EU Dec Construction Output w.d.a (YoY): -4.8%; -1.7% (MoM)

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Forex: USD/CHF erases gains following publication of data

The USD/CHF has fallen nearly 10 pips from the 0.9240 region after the publication of EMU and German data during European trading Tuesday. At the time of writing, the cross has surrendered its daily gains, and has settled in the area of 0.9230/32 as it returns to its opening levels.
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