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LONDON: Spain sold 3.35 billion euros of five-year government bonds on Thursday, drawing decent demand but paying a higher premium to sell the debt than at a previous sale in March.
The average yield at the auction was 4.549 percent, up from a previous sale in March.
The sale received bids worth 1.9 times the amount on offer, below the average of 2.15 at the two previous taps of the bond this year.
COMMENTARY:
"Spain's five-year auction looks OK, with 3.3 billion euros being issued it should not weigh on the market too much.
The bid cover is solid enough but I suspect the strong rally of the past two weeks has dampened interest slightly."
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