European Debt Crisis: Spain’s Ugly Bond Auction
17 November, 2011, 17:55. Posted by Zarathustra
Tags: Economy, Euro Crisis, Europe
Just as expected here, the European debt crisis is not solved.
Spain has just sold some 10-year paper. The average yield hits 6.975%, so after Italy has flirted with 7%, Spain is probably the next in line. The bid-to-cover is 1.54, and it only managed to sell €3.56 billion instead of the max. target of €4 billion.
Elsewhere, French-German spread has reached 200 basis points, and Italy is still at around 7%. Things aren’t looking pretty
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About Zarathustra
Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.