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Spain sells less than hoped for in bond auction

Spain sells less than hoped for in bond auction

Spain has raised slightly less than it hoped for in 10- and 30-year bond auctions with interest rates indicating continued investor concern over its debt.
The Treasury said it sold (EURO)3.5 billion ($4.7 billion) Thursday, less than the targeted (EURO)4 billion.
It raised (EURO)2.8 billion in 10-year bonds at an average interest rate of 5.2 percent, compared with 5.4 percent in the last such auction in December.
It sold (EURO)997 million in 30-year bonds with the yield up to 6 percent from 5.5 percent in November.
Demand was 1.5 times the amount offered.
Spain, with 20-percent unemployment and a swollen deficit after nearly two years of recession, has been in the market spotlight in recent months amid fears it may need a bailout like Ireland or Greece.


Updated : 2021-10-26 08:40 GMT+08:00