Portugal Completes T-Bill Auction, Rates Steady to Lower
January 18, 2012
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Europe Update: Auctions Results for Portugal
Portugal sold €496 million of 3-month T-Bills at 4.349%, which was the same rate seen at the previous auction. The bid-to-cover was 4.1 vs. 2.4.
In addition, Portugal sold €754 million of 6-month T-Bills at 4.740%, which was below the prior rate of 5.250%. The bid-to-cover was 3.0 vs. 4.1.
Portugal sold €1.25 billion of 11-month T-Bills at 4.986%with a bid-to-cover at 2.1.
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