Economy

Ghost Dog

(16,881 posts)

18. Another successful Spanish bond auction; EU leaders plan additional summit

Fri Dec 16, 2011, 07:00 AM

Dec 2011

The situation on European debt markets remained stable on Thursday. During a debt auction held in Spain the country's Treasury managed to sell 6 billion euros of bonds, almost a double amount than initially planned. The yield on 5-year bonds was 4.02% and on 9-year bonds 5.23%. The risk premium on Spanish debt fell to 360 points while Italian borrowing costs were at 490 points.

John J. Hardy, Head of FX Strategy, Saxo Bank comments on the outcome of the Spanish auction: “The tightening sovereign debt spreads in general today was driven by a very successful auction of Spanish debt – as Spain managed to sell twice as many bonds as anticipated at its auction today. Some of that demand may be due to the anticipated boost in liquidity from the ECB’s most recent measures, which could allow Spanish and other banks to lock in fat spreads on LTRO and other borrowings versus investment in sovereign debt – assuming that what looks well on paper, ends well in reality.”

/... http://www.fxstreet.com/fundamental/market-view/european-crisis/2011/12/15/

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STOCK MARKET WATCH, Friday, December 16, 2011 [View all] Hugin Dec 2011 OP

Okay, here's the downside of me doing this. Hugin Dec 2011 #1

excellent n/t Po_d Mainiac Dec 2011 #2

Yes, I can do that mid-morning here tomorrow. Ghost Dog Dec 2011 #5

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... Hugin Dec 2011 #103

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Sorry about that. Hugin Dec 2011 #4

I suggest adding a link back to each previous day's thread, Ghost Dog Dec 2011 #6

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"Assistance to Europe", of course, should read "assistance to certain European banks", Ghost Dog Dec 2011 #66

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