Spain placed today Bonos for a total value of 4,1 billion euros, the entire amount offered by the Treasury of Madrid. Good question, but interest rates have gone up.
In detail, €1,6 billion in three-year bonds with a yield of 2,442% (up compared to the 2,247% of the May auction) and a coverage ratio of 2,2 were assigned.
Five-year bonds were also placed for 1,3 billion, with an interest rate of 3,001% (from 2,789% in the previous auction) and a bid to cover of 1,9 (from 2,2).
Finally, Bonos maturing in 2026 were placed for €1,2 billion. Yields rose from 4,336% to 4,540% and the hedge ratio reached 1,5.
