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Borrowing costs edge lower as Spain sells 12-month debt

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Investing.com - Spain saw borrowing costs edge lower at an auction of 12-month government bonds on Tuesday, as investors continued to monitor political developments across the single currency bloc.

Spain's Treasury sold EUR3.85 billion worth of 12-month government bonds at an average yield of 1.363% earlier in the day, down from 1.548% at a similar auction last month.

Spain also sold EUR1.98 billion of six-month debt at an average yield of 0.794%, down from 0.859% at a similar auction last month.

In total, Spain's Treasury sold EUR5.83 billion of government debt, above the full targeted amount of EUR5.5 billion.

Bond auctions have become key drivers of risk sentiment in recent months, as traders attempt to gauge the ability of indebted euro zone nations to fund themselves.

The yield on Spanish 10-year bonds stood at 4.718% following the auction.

Meanwhile, the euro was lower against the U.S. dollar, with EUR/USD shedding 0.24% to trade at 1.3016.

European stock markets were mixed. Spain's IBEX 35 Index eased up 0.3%, the EURO STOXX 50 dipped 0.1%, France's CAC 40 declined 0.15%, Germany's DAX was little changed, while London's FTSE 100 edged 0.1% higher

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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