Spain's borrowing costs continued to climb higher in the latest debt auction on Tuesday as markets remain concerned over the economic prospects of the country.
The Treasury sold a total EUR 2.5 billion of 3 and 6 - month bills, slightly higher than the top target of EUR 2.5 billion set for the auction.
The country raised EUR 1.50 billion from the sale of 3-month Treasury bills. The yield on the debt rose to 0.846 percent from 0.634 percent in the previous auction on April 24. The bid-to-cover ratio, which suggests demand, fell to 3.95 from 7.61.
The agency placed EUR 1.0 billion of 6-month bills at yield 1.74 percent, up from 1.58 percent in the previous sale. Demand was 4.3 times the offer, better than 3.25 percent in the April auction.
by RTT Staff Writer
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