© Reuters. The Treasury returns to the market this week with two debt auctions
Madrid, Apr 9 (.).- The Spanish Public Treasury will return to the market this week and will do so with two debt auctions, one for six- and twelve-month bills, and another for government bonds and obligations, after three weeks in in which Spain has not entered into any operation.
The last time that Spain appealed to the market was on March 16, and on that occasion the Treasury sold 6,298 million euros in three different denominations of State obligations, including ten-year debt, whose marginal interest fell.
And this, after the profitability of sovereign debt throughout Europe fell after the intervention of the US banks Silicon Valley Bank and Signature Bank, and the Swiss crisis Swiss credit (SIX:), causing investors to flee the equity market.
One of the safe haven values was fixed income. Thus, the high demand for these titles caused a rise in prices and a drop in profitability.
Likewise, this bid coincided with a rise in rates by the European Central Bank (ECB), of 50 basis points.
The first auction that the Treasury will hold this week will be on Tuesday, and six- and twelve-month bills will be placed there, and the second, on Thursday, for bonds and obligations.
In the last bill auction held on March 14, the demand for these titles by investors, many of them individuals, was almost four times higher than the amount awarded.
Individuals have increased their interest in Treasury bills in recent months given a return that exceeds that of other financial products such as bank deposits.
