MADRID (AP) — Spain beat expectations when it sold €5.6 billion ($7.5 billion) in short-term debt in a sign of continuing investor confidence in the government's handling of its finances.
The Treasury sold €2.55 billion in six-month bills at an average rate of 0.86 percent compared with 0.89 percent in the last such auction Jan. 22. It placed €3.02 billion in 12-month bills Tuesday for a yield of 1.55 percent, up from 1.47 percent Jan. 15.
Spain's borrowing costs have fallen in recent months as fears the country might need a bailout have eased. But the trend halted last week amid allegations of slush fund payoffs in the past within the ruling Popular Party.