Spain brings home another good result on the primary market. The Treasury of Madrid this morning placed 4,8 billion of 3- and 10-year bonds, more than the 4,5 billion it had set itself as a target. This is the largest amount obtained in the last six months.
As regards three-year bonds, 3,9 billion were placed at an average yield of 3,845%. On the other hand, Madrid placed 10 billion of 0,9-year bonds, the benchmark for calculating the spread on the secondary market, at an average yield of 5,66%, one percentage point less than the 6,647% of the previous auction and the lowest level since last February. The supply-demand ratio stood at 1,56.
Meanwhile in the secondary market, the spread fell to 414 basis points with a 10-year Bonos yield of 5,7%. The main index of the Plaza de Madrid, the Ibex, is still negative and marks -0,5%.
