Spanish treasury places over €5bn on market at lower yields

The Spanish treasury on Tuesday placed six- and 12-month treasury bills with the value of 5.007 billion euros (6.793 billion U.S. dollars) on the market, at lower interest rates than in previous auctions amid high demands.
The treasury exceeded expectations by selling between 4 and 5 billion euros of bills, while the demand was around 12.7 billion euros.
A total of 909 million euros worth of six-month treasury bills carried an average interest rate of 0.144 percent, below the previous 0.362 percent of May.
The remaining 4.097 billion euros worth of 12-month treasury bills fetched an average interest rate of 0.384 percent, also below the 0.598 percent of the previous auction.
The treasury will hold another auction on Wednesday. (1 euro = 1.36 U.S. dollars)