Spanish borrowing costs fall debt auction

FXstreet.com (Barcelona) - The Spanish Tesoro Público held a debt auction on Thursday during which it sold a total of 4.574 billion euro worth of 3-, 5- and 13-year bonds, exceeding the maximum target of 3.5-4.5 billion euros.

1.863 billion euros of bonds maturing in 2016 were auctioned at an average yield of 2.247%, compared with 2.792 % seen at the previous auction. 1.549 billion euros worth of bonds maturing in 2018, were sold at an average yield of 2.789% versus the previous 3.257%. 1.162 billion worth of bonds maturing in 2026 yielded 4.336%, versus 5.555%.

Following the sale the yield on Spanish 10-year bonds stood at 4.114%.