Spanish Bond Auction Goes Okay, But Borrowing Costs Are On The Rise

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The Spanish government just went to the debt markets and borrowed 3.13 billion euros, which was above the 3 billion euro target.

However, borrowing costs were higher and demand was weaker thna in a similar auction a month ago. 

Here’s a round up of the results from DJ FX Trader:

2-year bonds: 4.848%, up from 3.609% in March.

4-year bonds: 6.059%, up from 5.621% in July.

10-year bonds: 6.706%, up from 6.505% in July.

All eyes will be on the European Central Bank and its president Mario Draghi who will be releasing its monetary policy decision later this morning.

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