Investors' jitters push rates up for Spain's 10-year bonds, Treasury misses sale target

MADRID – 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 per cent, up from 2.07 per cent in the last such sale Oct. 2.

It sold 1.05 billion euros in 15-year bonds with the rate falling to 2.84 per cent from 3.5 per cent 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 per cent. The rate for Spain’s benchmark 10-year bond on the secondary market rose to 2.32 per cent, from 2.1 per cent Wednesday.