Spanish Two-Year Notes Stay Higher After Bills Sales ResultLukanyo Mnyanda
Spanish two-year notes stayed higher as the country sold 5.57 billion euros of treasury bills due in 189- and 371 days.
The yield on the nation’s 2.75 percent securities maturing in March 2015 was six basis points, or 0.06 percentage point, lower at 2.73 percent at 9:46 a.m. London time. Ten-year yields slipped seven basis points to 5.36 percent.
Spain’s Treasury, which set an upper goal of 5.5 billion euros for the auction, sold 12-months bills at an average yield of 1.548 percent compared with 1.472 percent on Jan. 15. It sold six-month bills at an average 0.859 percent today, down from 0.888 percent on Jan. 22.
Italy is due to auction 365-day bills today and securities maturing between 2015 and 2040 tomorrow. The Netherlands sold 2.69 billion euros of five- year notes today at an average yield of 0.88 percent.