Spain wants more money – Market still awaits a bailout request

By: Eamonn Sheridan

Spain selling bonds today: After meeting this year's financing needs on Nov. 8, Spain will sell three bonds on Thursday, seeking to raise between 2.5 billion and 3.5 billion euros ($3.2 billion-$4.5 billion). The country's funding needs rise to 207 billion euros in 2013 from 186 billion euros this year, but could go higher still if the government overshoots its deficit target of 6.3 percent of gross domestic product this year and 4.5 percent next year. Market still expects it to request a bailout: "The market is all too aware of the tough challenges that lie ahead for Spain but it seems the lion's share in the market are reading bad news as motivation for a Spanish aid request." Spain Seeks Funds for 2013 With Market Eyeing Bailout