LONDON: German Bund futures were little changed on Thursday as investors bet on healthy demand at Spain's off-calendar auction of three bonds, announced after a strong bill sale this week.
Spain plans to sell bonds due in 2029, 2040 and 2041 later this session, and analysts expect plenty of appetite given recent buoyant sentiment towards its debt market.
The Madrid Treasury sold more than the targeted six- and 12- month bills at an auction on Tuesday and average yields on the six-month paper fell to levels not seen since February 2012.
"Presumably the demand is there otherwise they wouldn't be doing it. We don't know the size that they are doing so they can tailor the size (to ensure success)," one trader said.
German Bund futures were one tick lower at 143.13.
Recent upbeat US data has also dented demand for safe-haven assets, the latest showing US retail sales expanded at their fastest clip in five months in February.
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