Monday July 28, 2014


QUESTION OF THE WEEK

Survey results are meant for general information only, and are not based on recognised statistical methods.



Home »  News »  Business

Spain sells $7.74 bln in debt sale with demand strong and interest rates down sharply


In this photo taken Jan. 14, 2013, Tomas Jimenez, 44 years-old Spanish farmer, left, works in the rain to harvest winter cabbage, beside other labourers Ismael, 29, of Morocco, second left, Emilio of Spain, 53, and Morocco's farmer Abd Arahime, in the small town of Peralta, northern Spain, on Tuesday, Jan. 15, 2013. (AP Photo/Alvaro Barrientos)

MADRID - Spain has sold an above-target 5.8 billion ($7.74 billion) in short-term bills at a sharply reduced interest rate, reflecting easing investor concern over the country's ability to manage its finances without a bailout.

The Treasury sold 3.25 billion in 12-month bills at an average interest rate of 1.47 per cent, down from 2.56 per cent in the last such auction Dec. 11.

It placed 2.51 billion in 18-month bills on a yield of 1.69 per cent, compared with 2.79 per cent last month.

Demand was more than double the amount offered overall Tuesday.

Spain's borrowing costs have plunged from unsustainable highs last year after the European Central Bank pledged to help countries by buying up their short-term bonds if they apply for help. Spain says it does not need outside aid for the moment.


Comments


NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Alaska Highway News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

blog comments powered by Disqus


About Us | Advertise | Contact Us | Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

LOG IN



Lost your password?