Business Insider

A Troubling Sign Out Of Spain

Sam Ro — Thu, 20 Jun 2013 08:56:00 GMT

Spain just reported the results of its latest bond auctions, and the weak demand has people worried.

The Spanish government sold 1.3 billion euros worth of bonds maturing in 2018 at a bid-to-cover ratio of 2.2, down from 4.1 at the previous auction for similar bonds.

It also sold 1.1 billion worth of bonds maturing in 2021 (bid-to-cover of 2.0, down from 2.1) and 1.5 billion euros worth of bonds maturing in 2023 (bid-to-cover of 1.8, down from 2.5).

Spain is one of the more debt-laden countries in southern Europe. Deteriorating demand for its bonds could be a sign that the Spanish government wil ave an incresingly difficult time refinancing its debt.

Business Insider

A Troubling Sign Out Of Spain

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