The Spanish bond auctions closed this morning with interest rates on the rise. The Treasury of Madrid, which discounts the recent rise in spreads, has placed 4,61 billion euros against the maximum of 4,5 billion expected.
Yields on the first two-year bond issue (1,95 billion euro) rose to 2,823% from 2,476% at the January auction. On 5-year securities (2,07 billion euro) the average rates rose from 4,123 to 3,77%. These are the first placements after allegations of corruption against Prime Minister Rajoy and the leaders of the Partido Popular.
