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Borrowing costs fall at Spanish debt sale

Spain sold 4.2 billion euros of 2, 5 and 10-year debt on Thursday, beating the maximum target of 4 billion euros.

The Spanish Treasury sold 1.12 billion euros of bonds maturing in 2015 at an average yield of 2.54% vs 2.823% seen at the previous auction. 0.548 billion worth of paper maturing in 2019 was auctioned at an average yield of 4.275%, considerably down from the the previous 6.701%. 2.568 billion worth of bonds maturing in 2023 yielded 5.202%, compared with 5.290% seen in December.

Forex: EUR/USD bounces back to 1.3200 after lower Spanish yields

The European morning 100-pip fall to as low as 1.3178 was triggered by the release of Markit PMI data, with weakening EMU figures, Germany manufacturing little above the 50.0 threshold and France underperforming Germany. The pair is moving back to the 1.3200 psychological level following the Spanish bond auction.
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Forex Flash: Is market stability an issue in aftermath of FOMC? – UBS

It is fair to say that the FOMC has not seen so much debate over policy in quite some time – “although forward policy was supposed to have been resolved as an issue with the December launch of numerical targets, in hindsight the decision appears to have been somewhat rushed, and right now individual members are at odds over exact policy calibration.” suggests Research Analyst Garth Berry at UBS.
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