スペインの財務省は、57億7500万0000ユーロの国債を発行、1年国債は金利が1'52%(前回は2'65%)で32億4600万0000ユーロ、1年半国債は金利が1'79%(前回は2'88%)で25億0900万0000ユーロ発行。
El Tesoro emite 5.775 millones y aprovecha la tregua para hacer caja
El instituto emisor supera en 250 millones los objetivos máximos fijados para la subasta
Rebaja en un punto el interés de sus letras a 12 y 18 meses con un 1,52% y un 1,79%
Cumplir con los objetivos del programa de financiación son la clava para eludir el rescate
Álvaro Romero Madrid 15 ENE 2013 - 11:21 CET
The Treasury issued 5,775,000 and leverages the truce to cash
The central bank at 250 million exceeds the maximum targets set for auction
Point reduction in the interest of his lyrics to 12 and 18 months with a 1.52% and 1.79%
Meeting the goals of the funding program are nailed to evade rescue
Alvaro Romero Madrid 15 ENE 2013 - 11:21 CET
The Treasury has used the truce Tuesday crossing debt markets to return to issue more debt than planned with a view to completing the demanding program that has secured funding for 2013, whose performance is the key to avoid rescue. Thus, under the premise that throughout the year should be issued at a rate of 600 million euros a day, this morning has stepped on the accelerator and placed 5.775 million, about 250 million above the maximum target set for the operation. In turn, has strongly reduce the interest that has had to issue the securities, which have been at the lowest levels of the past 10 months with 1.5% for letters to 12 months and 1, 7% for debt maturing in 18 months.
What type of security, the agency under the Ministry of Economy has placed 3,246,000 in letters to 12 months, with a marginal interest, which is the last before closing the oepración, 1.52%. This return, which is the lowest since last March, is well below the 2.65% that was forced to compromise in the previous auction the same time, in December. In addition, other 2,509,000 issued to 18 months. Where applicable, the type has decreased from 2.88% to 1.79%, also the lowest interest rate in the past 10 months. This was the last occasion on which letters were auctioned to 18 months, to be replaced by others to 9 months.
Demand, meanwhile, stood at 2.4 times requested titles that sold, which corresponds to a high level. Thanks to this, as it relates to the recovery of risk appetite among investors, has overcome the objectives of the emission maximum. Also, the Treasury has also been able to force the machine because there is greater confidence in the country, because if you can not overcome its fiscal problems with the safety net of the aid program of the ECB, which is ready to go shopping Spanish debt and guarantee their prices if something goes wrong and the government decides to activate the rescue. Precisely the kind of debt that the ECB will buy is going from one to three years later, the same to be auctioned this morning.
moreEuropean markets and away the ghost rescueThe risk premium falls by half since the peak in JulyThe Spanish Treasury issued more debt than expectedSpain asked the market in 2013 provided about 600 million daily
The State must return to creditors 28,300 million euros over this January. It counts with 6.955 million and issued after its first auction of 2013 last week and issued debt in the stretch últrimo 2012, when it had covered its financing needs of last year. For this reason, you can dip into the bank treasury, that at the end of November last published data, amounted to 40,000 million. However, this figure is equivalent to the money the agency has deposited in the account of the Bank of Spain, may vary significantly depending on monthly payments. Along with this mattress, the Treasury also has deposits with other entities, whose data are not known.
In addition, the Central Bank on Thursday will go to sovereign debt markets to issue bonds. In this operción also announced that placed titles to 28 years, which is unusual, taking advantage of improved markets. The recovery also continued Tuesday. After the auction of letters, the spread between 10-year Spanish debt and German benchmark for its stability, the trend has changed and, after rising at the opening, is down 2 basis points, to 345 (3, 45 percentage points).
The good state of the debt markets has also encouraged companies to raise finance out. In recent weeks, the vast majority of banks and some large companies such as Telefónica or Grid have also issued debt with a smaller returns than in previous operations.
From the Government, the Secretary of State for Economic, Fernando Jiménez Latorre, described the outcome of the auction of a "successful" and stressed that it has "solid foundations". "It is normal for both investors and the Treasury seize quantities for capitalizations and attractive conditions", explained in relation to the fact that targets are exceeded.
He also found that "investment is entering extranera". Quoted by Efe, added that the market is in a "very favorable" and "very different" to which he had in mid-2012 and has expressed the hope that "this stability is the tone for the coming months" .
With the projected emissions for this year, the balance of expected government debt at the end of 2013 will add about 759,700 million, up from 688,200 in 2012.
Rescue Fund issued 6,000 million to seven years at 1.61%
The European Financial Stability Fund (EFSF) on Tuesday issued 6,000 million euros in bonds with a maturity of seven years which has offered an interest rate of 1.612%. Demand has been of 8,300 million.
"This transaction represents an excellent start of the EFSF funding program in 2013," the CFO and deputy CEO of the company, Christophe Frankel, who noted the interest shown by investors on the debt to seven years, which gives This maturity "reference status".
The EFSF is in charge of providing the bailouts of Greece, Ireland and Portugal until its work is undertaken by the permanent rescue fund for the euro zone, called the European Stability Mechanism (ESM).
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