Spain Sells €2.4B in Treasury Bills as Yields Move Higher

Spain raised €2.42 billion through its latest Treasury bill auction on Tuesday, as yields moved higher for both maturities on offer.

In the three-month segment, the Spanish Treasury allocated €941 million at an average yield of 2.456%, up from 2.387% at the previous auction. The corresponding price eased to 99.431 from 99.447, while total bids reached €2.916 billion.

For the nine-month bills, the government collected €1.476 billion at a yield of 2.776%, compared with 2.605% at the prior sale. The price declined to 97.990 from 98.112, and bids on the paper totaled €3.951 billion.

The bid-to-cover ratio, a measure of auction demand, rose to 3.1 for the three-month bills from 2.8 at the last auction. For the nine-month bills, however, the ratio slipped to 2.7 from 3.0 previously.

This article was produced with the assistance of artificial intelligence and subsequently reviewed by an editor. For more information, please refer to our terms and conditions.