Spain bond auction witness lower than expected yields

By @ibtimes on

Demand for Spain's bonds increased Thursday as the government auctioned 5-year bond, while witnessed lower yields than expected. The weighted average yield on the bonds rose by 97 basis points to reach 4.542 percent; this is compared with market estimates of a jump of 130 basis points.

Spain's Treasury auctioned €3.0 billion worth of bonds that witnessed a bid-to-cover ratio up to 2.1, compared with the previous auction that witnessed a bid-to-cover ratio of 1.6.

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