Spanish Sovereign

Greece’s yields screamed lower on Monday despite reports that the country’s creditors are unhappy with its government’s reform efforts. Meanwhile, Cyprus could bring a bond after completing a roadshow last week.

Uncertainty over the make-up of the Portuguese government following an inconclusive election is playing havoc with the sovereign’s yields — but analysts warned it is not alone in suffering from potential political risk.

Spain took itself over the 90% mark of its reduced 2015 funding programme with an auction where yields fell across the maturity curve.

Portugal is underperforming its nearest peers in the eurozone periphery ahead of a debt auction later this week, amid tense talks to form a government for the country.

Italy has sparked a busy week for the eurozone periphery by cutting its borrowing costs at an auction of short term debt.

Spain’s borrowing costs dropped to their lowest levels since spring at an auction on Thursday, rounding off a week where the country outperformed its nearest peer in secondary markets.

Spain is enjoying a strong warm-up for a debt auction this week, as its yields fell faster than its eurozone periphery peers following a Catalonian election where independence parties won just under 50% of the vote.

Spain’s sold short term debt at the lower end of its size target on Tuesday, just a few days before a crucial regional election in the country.

The second Greek general election of the year has returned a much more market friendly result than the first one, and SSA bankers are hopeful that a prevailing calm in the euro market could lead to some deals.

Greece heads to the polls over the weekend for its second parliamentary election this year, but there is little concern of the plebiscite rocking markets like the earlier vote in January.

Spain’s borrowing costs dropped in five years but rose in threes and 10s at an auction on Thursday, as Italy shelved its BTP Italia product for the year.

Spain kicked off a busy week for the eurozone periphery with a bill sale where the sovereign’s borrowing costs repeated their pattern for much of this year by bumping around 0%.