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Bond Markets
Spain successfully offloads short-term bills
Spain was also trying to raise cash today – it offloaded €1.757bn in 18-month treasury bills, with demand exceeding supply by a factor of 2.9, while 12-month bills totalling a whopping €5.28bn were sold at 1.908%, with demand 1.7 times the supply. The demand for both was down, however, with 12-month bid-to-cover previously at 2.5 while the 18-month was 3.9.
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