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Spain bond yield fall as demand rises

Source: Reuters - Tue 15th Jan 2013
Spain bond yield fall as demand rises

Spanish and Italian bond yields reversed an earlier rise on Tuesday with traders citing strong demand at the two countries' debt auctions.

"T-bill auctions were OK. There is good demand for this syndicated Italian deal so I think that's why (yields are falling)," a trader said.

Spain successfully sold €5.75 billion of treasury bills, beating their initial target of €4.5-€5.5 billion while Italy was selling 15-year bonds via syndication.

Spanish 10-year yields were last flat on the day at 5.04%, having risen as high as 5.14% earlier while equivalent Italian yields were 2 basis points lower at 4.17%.