Spain Bond Sale Short of Top Target as Demand Drops
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Spain sold 3.5 billion euros ($4.8 billion) of bonds today, less than the maximum target, as demand declined. Bonds fell after the sale.
The Treasury sold 2.47 billion euros of 10-year bonds at an average yield of 5.2 percent, the Bank of Spain in Madrid said, compared with 5.446 percent the last time similar securities were sold on Dec. 16. It also sold 998 million euros of bonds due Jan. 31, 2037 at an average yield of 5.957 percent. It had planned to sell a maximum of 4 billion euros in total.