In what was a strong week for peripheral sovereign bond markets, Spain had particular cause to celebrate on Thursday as its second bond auction of 2013 passed off without a hitch.
The sovereign achieved its maximum target of 4.5bn at Thursdays auction of October 2015, January 2018 and July 2041 debt and also lowered its costs. Spain has now printed just over 10bn of debt through auctions during the first three weeks of the year, accounting for nearly 9%
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