This copy is for personal, non-commercial use. To order presentation-ready copies for distribution you can: 1) Use the "Reprint" button found on the top and bottom of every article, 2) Visit reprints.theygsgroup.com/dailyherald.asp for samples and additional information or 3) Order a reprint of this article now.
Article updated: 3/21/2013 7:23 AM
Spanish bond auction unaffected by Cyprus jitters
MADRID — Spain has paid lower interest rates in a bond auction that raised 4.5 billion euros ($5.8 billion), suggesting the financial crisis in Cyprus is not affecting other troubled eurozone nations.
The Treasury said it sold 2.33 billion euros in 10-year bonds at an average interest rate of 4.89 percent, down from 4.92 percent at the last such auction Feb.7.
It sold 1.03 billion euros in five-year bonds at a rate of 3.56 percent, compared with 3.57 percent last month. It paid 2.28 percent to sell 1.16 billion euros in two-year bonds, down from 2.54 percent Feb. 21.
Thursday’s sale follows a similarly encouraging one in Portugal the day before and indicates frail eurozone nations have so far avoided being destabilized by Cyprus’ crisis.
Copyright © 2013 Paddock Publications, Inc. All rights reserved.