Bond Auctions in France and Spain Well Received
January 19, 2012
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Europe Update: Auctions Results for France, Spain
Debt auctions in Europe were considered well received on Thursday as demand increased and rates continued to decline.
Spain sold €1.3 billion of 2016 bonds at a rate of 4.03%, which was slightly above the prior rate of 3.91%. The bid-to-cover was 3.2 vs. 1.7
Spain sold €2.3 billion of 2019 bonds at 4.54%, which was below the prior rate of 5.11%. The bid-to-cover was 2.0 vs. 2.10.
Spain sold €3.01 billion of 2022 bonds at 5.40% versus the prior rate of 6.975%. The bid-to-cover was 2.2 vs. 1.5.
France sold €2.96 billion of July 2014 bonds at 1.05% with a bid-to-cover rate of 2.12.
France sold €1.58 billion of 2015 bonds at 1.50% versus the prior rate of 6.244%. The bid-to-cover was 3.4
France sold €3.429 billion of 2016 bonds at 1.89% versus the prior rate of 3.82%. The bid-to-cover was 2.12
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