Spanish Two-Year Notes Extend Gains After Treasury Bill Auctions

Spanish two-year notes extended gains after the country sold 1.9 billion euros of bills.

The yield on the 3.4 percent security due April 2014 decreased six basis points, or 0.06 percentage point, to 3.52 percent at 9:51 a.m. London time. Ten-year yields were four basis points lower at 5.97 percent.

Spain’s three-month bills were sold at an average rate of 0.634 percent, compared with 0.381 percent at an auction on March 27, the Bank of Spain said in Madrid. It sold six-month bills at 1.58 percent, up from 0.836 percent.

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