links of london report,The average yield on the bonds
was 4.542%, which was nearly one percentage point higher than the rate reached in the last
auction in November.
However, analysts had feared the yield would be even higher.
The debt sale, which follows a similar auction by Portugal on Wednesday, is soothing fears over
the eurozone's ability to service its debts.
Michael Lister, strategist at West LB in Dusseldorf, said: "The figures look really good, it's
the perfect sequel to the Portugal auction yesterday."
links of london charmsSpain's finance minister, Elena Salgado had said ahead of the sale that the Portuguese auction
had helped prepare the ground for its own one.
At the end of last year, worries over the high level of debt held by many European governments
put pressure on those countries to pay more to attract investors to lend to it.
The countries with the biggest doubts over their economic health - Greece and the Irish Republic
- ended up needing huge support from both the European Union and the International Monetary Fund.
links of london sale