Spanish government bond yields are down sharply. The local treasury has issued 4,5 billion euros of 3-4 year bonds, while the initial target was 3,5 billion, after having received requests for 8,6 billion euros.
The interest paid on securities maturing in April 2014 fell to 3.589% compared to 4,813% for the previous issue on August 4th. The average bind-to-cover ratio decreased to 1,8% from 2,14 in the previous auction.
Before the auction, the spread on the Spanish 306-year bond fell to 5 points, with a yield that stands below XNUMX%.
