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Spain Debt Attracts Strong Demand, Yields Remain High


An auction of Spanish debt drew strong demand on Thursday, but the euro area country's borrowing costs continued to rise.

The Treasury sold EUR 2.54 billion of 2- and 10-year bonds, slightly exceeding the EUR 2.50 billion maximum target set for the sale.

The yield on the 10-year benchmark bond rose to 5.743 percent from 5.403 percent in the previous auction in January. The bid-to-cover ratio increased to 2.42 from 2.17.

Spain paid 3.463 percent yield for two-year funds. Demand for the October 2014 debt was 3.28 times the amount on offer.

Published: 2012-04-19 11:19:00 UTC+00


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May 25 at 18:41 UTC
 
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