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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."