Madrid, April 21 (EFE) .- Spain has captured today 2566.9 million in letters three and nine months and for the second time in its history has managed to award negative interest debt, 0.025% in the shorter term.
Of the 2566.9 million awarded today, 1,001 have gone to three months with a negative marginal interest rate of 0.025% the lowest in the time series, while the remaining 1565.95 million have been placed to nine months with a yield of 0.012%, also the lowest since records.
This is the second time that the Treasury is financed negative interest, ie, causing investors pay to buy Spanish debt, following the issuance of letters of last April 7, when he put lyrics to six months also with negative returns.
That day, awarded 4.646 million euros in letters to six and twelve months in the first case came with a marginal interest rate of 0%, bringing the average negative rate was 0.02%.
Spain has become part of the select club of countries that are funded free or negative interest, such as Germany, Belgium, Denmark, Finland, France and Holland.
However, the types negative interest not assume that small savers to invest in Treasury bills do not derive income from their investments, since in August 2014 changes were made to protect the most vulnerable investors.
Thus, Applications treasury bills carried out in form of noncompetitive subscription, which is where the buyer says the amount to purchase but not the minimum return you expect, are automatically declared as submitted if the average rate, which is which serves as a reference for these awards is negative.
Requests for investors in the auction have risen to 9186.95 million, so the coverage ratio, which is the ratio between the demand and the amount finally awarded, was in this very high chance of 3.5 times.
The Treasury does not hold another debt auction until next May 7, when he placed bonds and notes whose terms and amounts are still unknown
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