Great success for the Spain on the public debt market. This morning the Treasury of Madrid placed Bonos in three and five years for 3,218 billion euros overall, well beyond the maximum offer initially set, equal to three billion.
In detail, 951 million Bonos 2016 were assigned with a coverage ratio of 3,3 (from the previous 2,6) and 2,267 billion securities maturing in 2018 with a bid to cover of 1,7 (from 2,1 ).
Yields on three-year bonds fell to 2,36% from 2,77% in the previous auction, while those on five-year bonds went from 3,74% to 3,56%.
Since the beginning of the year, Spain has already covered 73,3% of its capital needs. Also for this reason the auction of 17 August should be cancelled, while the issues of 20 and 27 August are confirmed.
