Spain's borrowing costs increased at a triple bond sale on Thursday amid a fall in demand among investors.
The treasury sold EUR 4.08 billion of bonds maturing in 2016, 2018 and 2026. The 2018 bonds were sold at an average yield of 3.001 percent compared to 2.789 percent at the last issue. The bid-to-cover ratio fell to 1.94 from 2.24 last time.
The average yield on 2016 bonds rose to 2.44 percent from 2.24 percent. The demand for the issue exceeded the offer by 2.24 compared to 2.34 at the prior auction.
Meanwhile, the average yield on long-term 2026 bonds increased to 4.5 percent from 4.3 percent. The sale was 1.5 times subscribed, compared to 1.6 times previously.
The auction came a day after Federal Reserve Chairman Ben Bernanke commented that Fed may scale back its massive bond purchases in the months ahead if the US economy improves.
At a meeting in Brussels, European Union leaders on Wednesday emphasized the need to address tax avoidance by high income earners and big multinationals. Luxembourg and Austria expressed their willingness to soften their bank secrecy laws.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.