Spain Misses Maximum Goal in Auction as Yields Jump
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Spain sold 3.25 billion euros ($4.40 billion) of treasury bills, less than the maximum target set for the auction, amid escalating concern that the fallout from the Irish sovereign debt crisis is spreading to other nations.
The Treasury sold 2.09 billion euros of three-month bills today at an average yield of 1.743 percent, Bank of Spain data showed today. That compares with a yield of 0.951 percent at the last sale on Oct. 26. It also auctioned 1.16 billion euros of six-month bills at 2.111 percent, compared with 1.285 percent last month.