Spain sold €4.15 billion in 6m/12m Letras

FXstreet.com (Edinburgh) -The Spanish Treasury sold €1.34 billion of Letras expiring in 6 moths and €2.81 billion in Letras maturing in 12 months at 0.83% and 1.253% vs. July’s 0.958% and 1.503%, respectively. The demand was slightly lower albeit the final stake was higher than the initial target at €3.0-4.0 billion.

The Treasury already reached 76% of the total financial needs for the present year, around €92.2 billion. The Government is thus mulling the idea of scaling back some upcoming auctions, in order to lower the interest debt repayments.