Re: Spanish Bond auction 19 April
The results are just out... It's OK, as far as these things go, but not a blowout, which has disappointed some people. So, overall, sort of neither here nor there and very much depends on your expectations, more than anything. Still, the mkt on balance is disappointed, as the evidence points to a decreasing domestic LTRO bid,.
*SPAIN SELLS EU1.42B 10-YEAR BONDS
*SPAIN 10-YEAR BONDS BID-TO-COVER 2.42 VS 2.17 AT JAN. AUCTION
*SPAIN 10-YEAR BONDS AVG YIELD 5.743% VS 5.403% IN JAN.
*SPAIN SELLS EU1.12B 2014 BONDS
*SPAIN 2014 BONDS BID-TO-COVER 3.28
*SPAIN 2014 BONDS AVG YIELD 3.463%
3y tailed arnd 3cents
10y tailed arnd 20cents
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