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The Treasury holds its first auctions next week after the ECB meeting

Date: July 15, 2024 Time: 05:49:56

The Public Treasury will hold its first auctions this week after the last meeting of the European Central Bank (ECB), in which the supervisor made the decision to return to maintaining interest rates at their current level. Thus, rates remain at 4.5% for the fifth consecutive time, their highest level since 2001, despite the fact that the institution indicated the possibility of beginning to lower them in June.

The ECB’s decision, which was announced on Thursday, caused a sharp rise in the yield of ten-year bonds in the secondary debt market. After Thursday’s increase, a trend towards stabilization could be observed in the last session of the week and on Friday there was no such pronounced rebound.

Last two auctions of April

In the case of the ten-year Spanish bond, its profitability is around 3.18%. In this context, in which the ECB has changed its speech and is now open to cutting rates if inflation continues to decline, the Treasury will hold the last two auctions scheduled in the month of April.

The first will be on Tuesday the 16th, and in it, the Treasury will offer investors three- and nine-month bills. In the last bid of these characteristics, held in March, Spain paid a return of 3,653% in the case of the former, and 3,578%, in the case of the latter.

Likewise, on Thursday, April 18, the Treasury will return to the market to offer investors bonds and government obligations. Will auction three-year bonds; ten-year obligations; other obligations with a residual life of six years and three months; and others that expire in 2066, with a residual life of 42 years and three months.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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