At the first debt bond auction held in Spain for a fortnight, the Government has this morning obtained more funds that forecast, but at a higher interest. The treasury obtained 2.074 billion € in the auction of two, three and ten year bonds, which was being seen as key by the markets. 611 million was placed at ten years at an interest of 6.044%, with demand 3.3 times supply. 638 million was placed in two year bonds at 4.335% with demand 4.3 times supply, and 825 million was placed in three year bonds at 5.353% which were 2.6 times oversubscribed. Meanwhile the Risk Premium, the difference between Spanish and German ten year bonds has fallen below 480 today, and the Stock Market has been climbing, following the news of a possible direct rescue of the Spanish banks from European funds.
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