Solid demand on French and Spanish bond auctions

Thursday, 19 January 2012 01:30

Euro held stronger against all major counterparts today after French and Spanish bonds auctions.
Spanish Treasury sold 6.6 billion euro in various bonds. The initial estimated amount for auction was 4.5 billion.
The government managed to decrease yield on 10-year bond to 5.403% from previous 6.975%.

France also auctioned all targeted amount of 8 billion euro. Notes for 2014 were sold at 1.05% yield down from 1.58% previously.

In the European early afternoon trade couple EUR/USD was traded at 1.2905.