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Yields fall to lowest since September 2010 as Spain sells 10-year debt

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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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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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