Spain 50yr doubted as yields slip below Italy
The eurozone periphery’s two heavyweights had contrasting fortunes this week as talk grew of a 50 year privately placed euro medium term note and 30 year benchmark from Spain while Italy — whose 10 year yields rose above its peer’s for the first time in 18 months — suffered a price spike at auction.
But despite claims emerging from the Spanish Treasury that investors had shown interest at the 50 year part of the curve — at which Italy was able to raise €500m through a private deal in May — some bankers were sceptical about the motivation behind the rumours.
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