Increasingly alarming interest rates in Spain in a new auction of government bonds, which Madrid managed to carry out successfully: overall it raised 3,077 billion euros on 3 and 6-month bonds, once again slightly above the expected forecast range.
But on three-month bonds, the yields demanded by the markets have almost tripled, to 2,363% against the 0,846% recorded in the previous similar auction, dating back to May 22nd. On six-month bonds, rates have almost doubled to 3,237%, from the 1,737% recorded in the May 22 auction.
Data that brought alarm to the markets in Europe, where attempts at partial recovery after the sharp drops recorded yesterday are fading late in the morning. The Madrid Stock Exchange resets the gains while the yields on the Spanish Bonos already in circulation start to rise again, reaching 6,72 percent. In this way the interest rate differential between Spain and Germany, the spread on the ten-year maturity widens again to 521 basis points, or 5,21 percentage points.
