©Reuters. The Treasury expects to place up to 2,500 million euros in bills tomorrow
Madrid, May 9 (.).- The Spanish Public Treasury is holding a new debt auction tomorrow, of three and nine-month bills, in which it hopes to place between 1,500 and 2,500 million euros among investors.
The new Treasury bid, which will be the penultimate in May, will take place at a time when the yield on sovereign bonds continues to climb, given the tightening of central bank monetary policy to control inflation .
In today’s session, the ten-year Spanish bond remains at its highest since July 2015, after rising to 2.289%; while the German, considered the safest in Europe, trades at 1.16%.
The sustained rise in the profitability of the debt is causing Spain to have to pay more to finance itself in the market.
A fact that was seen in the last auction held by the Treasury, on May 3, when it placed 5,011 million euros in six and twelve-month bills that, in the latter case, were awarded at a positive marginal interest, something that It hasn’t happened since April 2020.
The last time Spain sold three- and nine-month bills was on April 19.
On that occasion, nine-month bills came in at a marginal return of -0.385%, higher (or less negative) than the -0.544% bid in March.
For three-month bills, the return was -0.652%, also higher than -0.678% previously.