Spain auctions 4.8 billion euros of bonds at lower yields

FXstreet.com (Barcelona) - During a debt auction, held by the Spanish Treasury in the European morning, the country sold 4.8 billion euros worth of government bonds, out of the targeted 4.5 billion. This is the most the country had auctioned since January. Borrowing costs fell in comparison with the previous sale.

The average yield on 10-year bonds was at 5.66% (versus 6.64% seen in August and the lowest since January). The average yield on 3-year bonds was at 3.85%, in comparison with the 3.68% seen at the previous auction.

Spain issued debt for the second time this week, as on Tuesday the country's treasury sold 4.6 billion euros in 12-month and 18-month bonds.

Spanish bond auction

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