Spain, France Take on Crisis With 8.1 Billion-Euro Debt Sale
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Spain and France sold 8.1 billion euros ($10.9 billion) of bonds, sending yields lower across Europe, a day after six central banks jointly moved to reduce financing costs to banks.
Spain sold 3.75 billion euros of notes and had to pay the most since at least 2005 to borrow for five years, with investors ordering more than twice the amount sold. Top-rated France auctioned 4.3 billion euros of debt, including 10-year bonds at 3.18 percent, less than at the Nov. 3 sale.