Investing.com - Spain saw borrowing costs decline to the lowest levels on record at an auction of five-year government bonds on Thursday.
Spain’s Treasury sold €2.671 billion worth of five-year government bonds at an average yield of 1.991% earlier in the day, down from 2.097% at a previous auction last month.
In addition, Spain sold €1.002 billion of three-year debt at an average yield of 1.331%, up from 1.309%. Madrid also sold €1.333 billion of debt maturing in 2028 at a yield of 3.846%, the lowest since 2005 and down from 4.199% at a previous auction.
In total Spain’s Treasury sold €5 billion worth of debt, in line with the full targeted amount of €5 billion.
The yield on Spanish 10-year bonds stood at 3.386% following the auction, while the euro held on to losses against the U.S. dollar, with EUR/USD dipping 0.24% to trade at 1.3799.
Meanwhile, European stock markets remained lower. Spain’s IBEX 35 Index fell 0.5%, the EURO STOXX 50 declined 0.7%, France’s CAC 40 shed 0.6%, Germany's DAX slumped 0.65%, while London’s FTSE 100 dropped 0.75%.