The Spanish auction was positive, characterized by strong demand and declining yields. This morning, in fact, Madrid placed titles for a total amount of 5,83 billion euros, higher than the target set between 4,5 and 5,5 billion euros.
On the six-monthly maturity, securities were placed for 1,98 billion, with a bid to cover of 1,90 and a yield that fell from 0,859% in February to 0,794%. On the annual maturity, securities were placed for 3,85 billion euro with demand equal to 3,20 times the offer and rates dropped to 1,363%, from 1,548%.
