Yields fall to lowest since 2010 as Spain sells 12-month debt
Investing.com
Published May 14, 2013 04:52AM ET
Spain’s Treasury sold EUR3.03 billion worth of 12-month government bonds at an average yield of 1.015% earlier in the day, the lowest since 2010 down from 1.235% at a similar auction last month.
Spain also sold EUR1.01 billion of six-month debt at an average yield of 0.500%, down from 0.530% at a similar auction last month.
In total, Spain’s Treasury sold EUR4.05 billion of government debt, above the full targeted amount of EUR4 billion.
The yield on Spanish 10-year bonds stood at 4.352% following the auction.
Meanwhile, the euro was higher against the U.S. dollar, with EUR/USD adding 0.16% to trade at 1.2997.
European stock markets were lower. Spain’s IBEX 35 Index fell 0.7%, the EURO STOXX 50 dipped 0.5%, France’s CAC 40 declined 0.5%, Germany's DAX was down 0.3%, while London’s FTSE 100 edged 0.15% lower.
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Written By: Investing.com
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