Spain, Ireland, Greece Sell Debt as Hungary Bill Auction Flops
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Spain, Ireland and Greece auctioned almost 10 billion euros ($13 billion) of debt, while Hungary sold less than planned, as investors favored nations backstopped by the European Union’s 750 billion-euro aid package.
The yield premiums investors demand to hold the debt of the three euro-region nations, all covered by the EU lifeline, instead of benchmark German bonds fell following the sales, while the Hungarian yield spread with bunds rose. Prime Minister Viktor Orban’s government sold 35 billion forint ($157 million) of three-month bills, 10 billion forint less than planned.