Spain Sells 3 Billion Euros of Bonds, Easing Funding Concerns
Demand for the bonds was 2.57 the amount sold, Bloomberg News reported. The bonds yielded 5.116%, compared with 4.434% for a similar debt sale in April.
"The Spanish auction went well," Chiara Cremonesi, a strategist at UniCredit Research in London, told Bloomberg News. "Appetite for Spanish paper is alive."
Spain has to repay 24.7 billion ($31.6 billion) euros of debt this month, and has the third-largest deficit in the eurozone.