Spain's Treasury issued a total of €4.449bn in 12- and 18-month notes on Tuesday, in line with the announced target of €4.5bn.
The Treasury issued a total of €3.788bn in 12-month notes with a yield of 3.76%, compared to the previous 2.728%. The bid-to-cover ratio was 2.2, compared to the previous 2.9.
Spain also issued €661m in 18-month notes with a yield of 3.98% compared to the previous 3.299%. The bid-to-cover ratio was 5.5 compared to the previous 3.9.
"I continue to consider demand and not the yield to be the key factor behind a positive debt auction; like today's," signalled Jose Luis Martinez Campuzano, a strategist for Citi in Spain.
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