The Spanish Treasury sold 2,89 billion euros of quarterly and half-yearly bonds at auction, slightly less than the maximum target of three billion.
But he had to raise interest rates. Yields are up: 2,519% for semi-annual bonds, compared to 1,776% in June, and 1,899% for three-month bonds, compared to 1,568% last month. These are the highest interest rates since December 2010 for the former and since 2009 for the latter.
Today's auction is the first carried out by Spain since the Eurogroup's agreement to bail out Greece. On the same day, the Treasury held an auction on 10- and 15-year debt. The uncertainty of the moment had brought yields to levels not seen since 1997, so much had demand fallen.
The announcement has provoked new tensions in the markets: Madrid is down (-0,81%) and the spread with the German Bunds has once again exceeded 300 basis points, after closing on Friday at 294. Country risk also continues to grow, reached 333 basis points.
