Spain Raised 2 Billion Euros at 6.04% - 7.6.2012
Spain sold 10-year bonds at an auction today at a yield of 6.04 per cent, higher than a previous sale at 5.74 per cent yield, however the demand for the 10-year bonds was 3.3 times higher the amount sold. In other words, the borrowing costs for Spain increased but the target was topped. The Spanish government overpassed its 2 billion-euro target at this bond sale two days after a government official reported that the Spanish access to the financial markets is narrowing. In the secondary market the Spanish yield on 10-year bonds fell by 7.5 basis points to 6.152 per cent.