Investing.com - Spain saw borrowing costs decline at an auction of ten-year government bonds on Thursday, as investors looked ahead to the European Central Bank’s policy meeting later in the day.
Spain’s Treasury sold €1.115 billion worth of ten-year government bonds at an average yield of 3.344% earlier in the day, down from 3.559% at a previous auction last month.
In addition, Spain sold €1.742 billion of five-year debt at an average yield of 2.097%, down from 2.263%. Madrid also sold €2.147 billion of debt maturing in 2017 at a record-low yield of 1.309%, down from 1.562% at a previous auction.
In total Spain’s Treasury sold €5.004 billion worth of debt, above the full targeted amount of €5 billion.
The yield on Spanish 10-year bonds stood at 3.361% following the auction, while the euro held on to modest losses against the U.S. dollar, with EUR/USD dipping 0.01% to trade at 1.3732.
Meanwhile, European stock markets remained higher. Spain’s IBEX 35 Index rose 1%, the EURO STOXX 50 advanced 0.6%, France’s CAC 40 picked up 0.6%, Germany''s DAX advanced 0.3%, while London’s FTSE 100 tacked on 0.15%.