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Spain treasury bonds snapped up by foreign investors

Source: Reuters - Tue 22th Jan 2013
Spain treasury bonds snapped up by foreign investors

The sale of Spanish Treasury Bonds earlier today saw an increase in demand push the average yields to an almost 12-month low.

The sale of a combined total of €2.8 Billion of 3 month and 6 month bills exceeded central government targets and saw yields fall to around half the interest rates offered at December's auction late last year.

A Spokesman for the Ministry of the Economy also reported how more than 60% of the treasury bonds were snapped up by non-Spanish investors, with the appetite for Spanish debt suggesting an increasing confidence in the marketplace.

The Ministry also said how they expected a high demand for the 10 year treasury bond - with investors expressing an interest in as much as €23 Billion of debt - however the source could only see the government committing to the sale of €7 Billion at this month's auction.

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