MADRID: Spanish short-term debt yields inched higher from record lows in August at auction on Tuesday, against a backdrop of weak growth expectations which are seen pushing the European Central Bank to approve more stimulus measures.
The Treasury sold 4.1 billion euros ($5.28 billion) of 3- and 9-month T-bills, beating the top end of its target of between 3 billion and 4 billion euros.
The 3-month bill sold 995 million euros at an average yield of 0.056 percent compared to 0.032 percent at the last auction of the same maturity on Aug 26. Demand was 2.3 times the offer, versus 3.2 times previously.
The Treasury sold 3.1 billion euros of the 9-month bill at an average yield of 0.146 percent, compared to 0.107 percent at the last auction.
The bond was 1.5 times subscribed compared to 2.3 times previously.
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