First Public Treasury auction since the European Central Bank (ECB) undertook the last interest rate increase since July 2022 and there are now ten and the yields have broken the contained trend of the last three placements and are rising again. Thus, Spain has placed a total of 4,572 million euroswithin the expected range, in debt securities with maturities of six and twelve months.
The interest paid by the Treasury for Bills has reached to approach 3.9% profitability for the one-year term, and to look for a similar record you have to go back to July 2012, eleven years ago. The public body has placed 3,535 million euros in twelve-month debt, out of a total requested by investors of more than 6,340 million euros. Individuals have been left with 754 million, 21% of the total, Therefore, the interest on the part of Spanish families in acquiring this type of financial asset does not decrease.
In the case of six-month bills, the awarded rate has reached 3.83%, so Spain pays practically the same for placing its debt in half or maturing in a full year. In the September auction, these same securities were placed at a marginal interest rate of 3.679%, while a rate of 3.68% was required for twelve-month bills. In this case, heNon-competitive requests, which must be awarded, have reached 535 million euros out of a total of 1,037 million euros, practically half of what was placed today. The total requests have almost tripled the Treasury offer above 2.8 billion euros.
The context in which the first public auction of the month of October took place is one of skyrocketing debt yields. The Spanish bond remains above 4%, a level it already exceeded last week. These are levels not seen in the last decade and the situation can be extended to the rest of the main European economies, where Italy stands out, whose ten-year role is above 4.8%.