Spain Meets Bond Target While French Borrowing Costs Fall

Spanish bonds gained after the Treasury met its target at a debt sale, while French costs declined at an auction, easing concern that the countries will struggle to finance their borrowings.

The Spanish Treasury sold 2.52 billion euros ($3.31 billion) of bonds, exceeding its maximum target. Still, Spain had to pay 4.037 percent to sell debt for three years, up from 2.617 percent at a March 1 sale.