Spanish 10-Year Bonds Erase Decline After Bill Sale Meets Target

Spanish 10-year bonds erased a decline after the nation sold 3.04 billion euros ($3.8 billion)of bills, compared with a maximum target of 3 billion euros the Treasury set for the first auction since the nation agreed to a European bailout for its banks.

The yield on the 10-year security was little changed at 7.15 percent as of 9:49 a.m. London time, after earlier rising four basis points to 7.19 percent.

Spain’s two-year notes pared a drop. The yield was four basis points higher at 5.49 percent after climbing as much as 10 basis points to 5.55 percent.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.