Continuing the pricing series Public debt short term. HE Treasure invested 1,997.57 million euros this Tuesday letters to three and nine months in both cases the interest rates are above 3%.
Investors have been showing a huge appetite for these titles for months now because they’re paying more for these titles than they’re paying for. bank depositsdespite the rise in the price of money. In fact, the demand for this auction, which was just under 2,000 million Euros, Over 6,200 million.
In total, 401.08 million euros were invested in quarterly bonds, compared to a demand of 1,906.26 million. The interest rate was determined as 3.090%., over 2,940% of the April bid. This is how it reaches Highest since November 2011.
Regarding the nine-month bonds, 1,596.49 million euros were invested, compared to a claim of over 4,300 million. marginal profitability realized as 3,222%Previous Over 3,199%. Reached its highest levelconsidering this reference (nine months) was first published in 2013.
The auction took place at a time when private investors showed great interest in Treasury bonds, especially short-term debt (with a maturity of less than one year). The profitability of these titles has been increasing since the beginning of 2022. Demand has skyrocketed so much that the Bank of Spain, which has grown from a wide network of branches, had to set up an appointment and internet sales system to prevent this. crowds.
In the case of these bonds and liabilities, another auction will be held next Thursday. The public agency expects to allocate somewhere between 5,500 and 6,500 million euros.
The Treasury’s gross debt issuance this year will be 256,930 million euros, which is 8.2% more than in 2022. Net debt will remain at 70,000 million. The government agency estimates the bonds will generate 5,000 million net worth of net financing, with the remaining 75,000 million being bonds, liabilities and other debt.