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Spain's bond yields have reached all-time lows in a backdrop of record-low European Central Bank interest rates and an economic recovery, creating a risk that yields on short-term bills could fall below zero, the Treasury said in a statement.
On Tuesday, Spain sold nearly 1 billion euros of 6-month T-bills at a yield of 0.08 percent, a fresh low.
The new measure will affect auctions during the rest of this year and in January 2015, the Treasury said.