Spain has closed a new auction of short-term government bonds, managing to place a higher amount of bonds than expected. Overall, the Treasury of Madrid collected €3,178 billion on 12- and 18-month bonds. The demand has exceeded expectations, according to reports from the Spanish central bank.
However, there was a sharp increase in yields required: rates shot up to 2,623% on one-year bonds (against 1,418% in the previous placement) and to 3,110% on 18-month bonds (from the previous 1,711%). In any case, according to the Spanish authorities, the increases are in line with expectations.
Immediately after the announcement of the auction results, the spread of the Iberian country continues to travel around 415 points, down from the 435 recorded at yesterday's close. As for the stock markets, the Madrid price list gains more than one point, in the wake of the increases marked this morning by all the main European stock exchanges.
Around 12 Milano continues to run faster than the other squares, scoring a rise of two and a half points. They follow Paris (+ 1,37%), Frankfurt (+ 1,14%) and London (+0,83%). The indications coming from Germany above all supported the increases this morning: the Zew index, which measures the confidence climate of German finance companies, rose for the fifth consecutive month, reaching 23,4 points, from 22,3 points the previous month.
In the same minutes, the Italian spread it stands at 375 points, down on yesterday's close (387 bps). The yields on our ten-year government bonds thus fall to 5,5%.
