Spain misses bond sale target amid market jitters

MADRID (AP) — Spain sold fewer 10-year bonds than it had hoped in an auction Thursday, amid broader jitters in financial markets.

The Treasury sold 2.15 billion euros ($2.72 billion) in 10-year bonds with an average interest rate at 2.19 percent, up from 2.07 percent in the last such sale Oct. 2.

It sold 1.05 billion euros in 15-year bonds with the rate falling to 2.84 percent from 3.5 percent July 7.

The Treasury sold a total of 3.2 billion euros, below its hoped-for target of 3.5 billion euros.

The sale came as Spain’s stock index was down nearly 4 percent. The rate for Spain’s benchmark 10-year bond on the secondary market rose to 2.32 percent, from 2.1 percent Wednesday.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up