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Spain misses bond sale target amid market jitters

Created: 10/16/2014 6:21 AM
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MADRID (AP) — Spain sold fewer 10-year bonds than it had hoped in an auction Thursday, amid broader jitters in financial markets.

The Treasury sold 2.15 billion euros ($2.72 billion) in 10-year bonds with an average interest rate at 2.19 percent, up from 2.07 percent in the last such sale Oct. 2.

It sold 1.05 billion euros in 15-year bonds with the rate falling to 2.84 percent from 3.5 percent July 7.

The Treasury sold a total of 3.2 billion euros, below its hoped-for target of 3.5 billion euros.

The sale came as Spain's stock index was down nearly 4 percent. The rate for Spain's benchmark 10-year bond on the secondary market rose to 2.32 percent, from 2.1 percent Wednesday.

(Copyright 2014 by The Associated Press. All Rights Reserved.)

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