Investing.com - Spain saw borrowing costs fall sharply at an auction of three-and five-year government bonds on Thursday, amid receding concerns over the euro zone's debt crisis.
Spain’s Treasury sold EUR1869 billion worth of three-year government bonds at an average yield of 2.268% earlier in the day, down from 2.792% at a previous auction.
In addition, Spain sold EUR1.55 billion of five-year debt at an average yield of 2.807%, down from 3.257% at a similar auction last month.
Madrid also sold EUR1168 billion of 13-year debt at an average yield of 4.354%.
In total Spain’s Treasury sold EUR4.57 billion worth of debt, above the full targeted amount of EUR4.5 billion.
The yield on Spanish 10-year bonds stood at 4.114% following the auction.
Meanwhile, the euro held on to modest gains against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.3173.
European stock markets remained lower following the auction. Spain’s IBEX 35 Index shed 0.3%, the EURO STOXX 50 fell 0.5%, France’s CAC 40 dropped 0.8%, Germany's DAX edged down 0.1%, while London’s FTSE 100 was little changed.
Spain’s Treasury sold EUR1869 billion worth of three-year government bonds at an average yield of 2.268% earlier in the day, down from 2.792% at a previous auction.
In addition, Spain sold EUR1.55 billion of five-year debt at an average yield of 2.807%, down from 3.257% at a similar auction last month.
Madrid also sold EUR1168 billion of 13-year debt at an average yield of 4.354%.
In total Spain’s Treasury sold EUR4.57 billion worth of debt, above the full targeted amount of EUR4.5 billion.
The yield on Spanish 10-year bonds stood at 4.114% following the auction.
Meanwhile, the euro held on to modest gains against the U.S. dollar, with EUR/USD adding 0.15% to trade at 1.3173.
European stock markets remained lower following the auction. Spain’s IBEX 35 Index shed 0.3%, the EURO STOXX 50 fell 0.5%, France’s CAC 40 dropped 0.8%, Germany's DAX edged down 0.1%, while London’s FTSE 100 was little changed.