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Spanish yields rise in bond sale
SPAIN paid a slightly higher premium to borrow €2.99bn (£2.65bn) over three and six months at a debt sale yesterday as investors awaited clarity over a second Greek bailout.
The amount of treasury bills sold was at the higher end of the Spanish government’s target range of €2.25-€3.25bn and attracted solid volumes of bids from investors.
Yields on the three-month paper jumped 18 basis points compared to the last tender in May and on six-month paper they inched up a point.
The Spanish auction was being closely watched for signs of contagion.