The Public Treasury invested 1,702.88m euros in a new fund this Tuesday. letter auctionAs reported by the Bank of Spain, it was below the expected average range, and it did so by paying quarterly bills and increasing the yield on nine-month bills.
In the last auctions, the Treasury had to pay more. investors With debt securities to coincide with the Fed’s rate hikes and the European Central Bank’s (ECB) Governing Council’s decision to raise interest rates by 50 basis points.
Investors maintain their appetite for Spanish debt securities as aggregate demand for both issues has been greatly exceeded. 6,000 million euros, much higher than the 1,700 million placed on the markets.
Specifically, in the quarterly auction, the Treasury placed €365.02m almost well below demand. 2 billion €and the marginal rate is placed at 0.145%, compared to the negative rate of -0.198% at the auction last July.
They were rewarded in letters written to nine months 1,337.86 million euros, This figure was also lower than the 4,457 investor-requested and marginal return was 0.618%, higher than 0.484% of the previous issue.
This Tuesday will be the last broadcast of August, as it has been decided not to call during these times as in previous years. bond and bill auction Postponed to Thursday, August 18.
In line with the financing strategy, the Undersecretariat of Treasury, 75 billion The net debt issuance forecast for 2022 is practically similar to the 2021 figure (75,138 million), while it estimates the gross issuance to fall by 10% from last year to 237,498 million euros.
As in recent years, most of gross emissions Planned will focus on Treasury bills and government bonds and liabilities.