Spanish Two-Year Notes Rise a 3rd Day; Yield Declines to 3.38%

Spanish two-year notes advanced for a third day as the nation prepared to sell as much as 2.5 billion euros ($3.3 billion) of debt.

The two-year note yield fell three basis points to 3.38 percent at 8:37 a.m. London time. Ten-year Spanish bond yields were one basis point lower at 5.81 percent.

Spain is due to auction securities due in October 2014 and January 2022, after raising more than its maximum target at a bill sale on April 17.

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