Spain Raises Another $5.3 Billion With Ease
MADRID (AP) â¿¿ Spain has managed to raise â¿¬4 billion ($5.34 billion) at an affordable cost in another sign that investors are more confident about the government's handling of its finances.
The Treasury says Tuesday it sold â¿¬3.1 billion in new nine-month bills Tuesday at a yield of 1.14 percent.
It also sold â¿¬886 million in three-month bills at an average rate of 0.42 percent, compared with 0.44 percent in the last such auction Jan. 22.
Spain's borrowing costs have fallen in recent months as fears the country might need a bailout have receded.Demand was five times the amount offered for the three-month bills and 2.3 times for the new bills. The country is in the throes of its second recession in three years with unemployment at 26 percent.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts