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Spanish bond auction is a success

This morning, the Spanish government initiated its bond auction process this year. The auctions were a success with the yield on 10-year government bonds falling to 4.95%, below 5% for the first time since March 2012. According to Reuters, Spain sold 5.82 billion euros of bonds maturing in 2015 bonds “and re-opened 2018 and 2026 debt”. So this is medium to long-dated paper.

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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.