France and Spain Successful Long-term Debt Auction
Thursday, June 7 2012, the Spanish Treasury watched closely as they held a bond auction, where it manage to sell €2.0740 billion. This bonds maturing in year 2014, 2016 and 2022 out of €1 to €2 billion mark, 3.290 was the bid to-cover-ratio.
At a yield of 5.44 percent the four-year bond was auctioned compare to the previous which was at 4.36%. The two-year bond that was auctioned before at 3.52% was auctioned on Thursday at 4.48%.
After the auction on Thursday the Spanish risk premium which reached a daily-high of 478 points, slightly fell bellow.
Later that day France also held an debt auction that sold €7.8360 Billion worth of bonds to mature on April 2019, April 2022, April 2060 out of the seven to eight billion on offer. 2.46% is the average yield on the France 10-year bonds.