Spain sold today a total of 2.54 billion euros of bonds maturing after two and ten years, slightly above the maximum target of 2.50 billion euro, recording yields above those recorded an auction earlier, while demand weakened as the future of Spain still uncertain.
Spain sold 1.12 billion euros of bonds maturing in 2012, producing an average yield of 3.463%, up from the prior of 2.89%. Demand for the two-year debt strengthened to 3.28 times the quantity offered from 3.28 times recorded in a previous auction.
The treasury auctioned as well 1.42 billion euros of 10-year bonds, producing an average yield of 5.743%, up from the previous of 5.33% recorded on April 4. Bid-to-Cover ratio retreated to 2.42 times from 2.96 times.