Spain in difficulty after poor bond auction

Spain failed to sell its targeted maximum of bonds at auction today and achieved prices well below those achieved at its last auction.

4th April, 2012
Spain in difficulty after poor bond auction
Spain: borrowing costs rise.

Spain failed to sell its targeted maximum of bonds at auction today and achieved prices well below those achieved at its last auction.

The Spanish prime minister Mariano Rajoy said Spain’s situation was one of “extreme difficulty”.

Spain sold €2.59 billion of bonds today, just above the minimum amount it planned for the auction and below its €3.5 billion maximum target.

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