This week investors have a new opportunity in which the ‘fever’ for the Public Treasury has already become. The Spanish body will appeal to the market again next Tuesday with an auction of six and twelve-month bills, while interest in this type of instrument by individuals continues to grow.
The Minister of Economic Affairs and Digital Transformation, Nadia Calviño, assured that during the first weeks of the year, the Treasury website has received debt purchase requests from individuals for a value of 1,100 million euros. An amount that exceeds 400 million registered in all of 2022.
This strong increase is also reflected in the data from the Bank of Spain. According to the latest data available, corresponding to the end of 2022, households had 1,826 million euros in Treasury bills, almost double the 950 million registered in November.
In January 2022, Spanish households only had 16 million euros in bills, although at that time, the profitability they obtained was negative. The last time that Spain placed bills at six and twelve months was on February 7. At that time, the marginal return on six-month bills was 2.693%, and twelve-month bills, 2.839%.
After Tuesday’s bid, the agency will carry out another three- and nine-month bill on March 14, and on the 16th, it will once again offer investors bonds and obligations. To date, Spain has already raised more than 25% of its medium and long-term financing program for 2023.