Investing.com - Spain saw borrowing costs fall to the lowest level since September 2010 at an auction of five-and ten-year government bonds on Thursday, as traders continued to monitor steps in handling the euro zone's ongoing debt crisis.
Spain's Treasury sold EUR1.29 billion worth of ten-year government bonds at an average yield of 4.612% earlier in the day, the lowest since September 2010 and down from 4.898% at a previous auction.
In addition, Spain sold EUR2.04 billion of five-year debt at an average yield of 3.257%, down from 3.598% at a similar auction last month. Madrid also sold EUR1.38 billion of three-year debt at an average yield of 2.792%.
In total Spain's Treasury sold EUR4.71 billion worth of debt, above the full targeted amount of EUR4 billion.
The yield on Spanish 10-year bonds stood at 4.652% following the auction.
Meanwhile, the euro held on to modest gains against the U.S. dollar, with EUR/USD adding 0.14% to trade at 1.3051.
European stock markets remained higher following the auction. Spain's IBEX 35 Index rose 0.7%, the EURO STOXX 50 advanced 0.7%, France's CAC 40 tacked on 0.7%, Germany's DAX edged up 0.5%, while London's FTSE 100 tacked on 0.25%.
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