The Treasury yesterday successfully closed a new issue by placing 4545.82 million in letters 6 and 12 months, offering investors lower interest on the previous occasion and marking new lows.
In addition, the agency was able to surpass its goal, as I expected to attract between 3,500 and 4,500 million euros. Demand, meanwhile, was high and exceeded 9,100 million.
Specifically, the agency sold the 2396.78 991.78 million demanded by investors in letters to 6 months, so that the requests exceeded 2.4 times the placed (3.9 times the previous time).
The interest of this paper is considerably moderaon and mark historic lows again to stay even below 0.1%. Specifically, the average interest rate increased from 0.146% to 0.080% this July, while the marginal fell to 0.090% from 0.155% previously.
On the other hand, the Treasury issued 3554.04 6739.18 million requested by the market in letters to 12 months, so demand was 1.9 times what I sold (2 times in July).
Interests
In this case, interest also moderated from July and lows marked in the time series. Thus, the average yield increased from 0.294% to 0.160%, while the marginal remained in the 0.169% compared to 0.302% previously.
The new minimum set by the Treasury show once again the trust generated Spanish debt despite the possible effect it may have on the national economy slowing some trading partners such as Germany, France and Italy.
Trade Balance
In fact, investors ignored the trade balance figures released Monday by the Ministry of Economy, which showed a deficit of 11,882.4 million at the lower boost exports and the sharp increase in imports.
In any case, the result of the issue shows that the Treasury exceeded again successfully test markets, but it will undergo scrutiny this week with an auction of bonds and notes to be held on Thursday ..
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