Spain Sells Bills at Lowest Yield Since Greece’s First Bailout
This article is for subscribers only.
Spain sold 12-month bills at the lowest yield since April 2010, the month Greece asked for the first European sovereign bailout.
The Treasury in Madrid said it sold 3.75 billion euros ($5.1 billion) of 12-month bills at an average yield of 0.961 percent. It also sold 817 million euros of six-month bills for a total of 4.57 billion euros, exceeding the maximum target of 4.5 billion euros. Demand at the auction was 2.74 times the amount sold.