French and Spanish bonds rally in auction
Published 01/12/2011 | 11:31
FRENCH and Spanish bonds rallied today as did the euro after the governments of both countries sold debt.
The yield, or interest rate, on Spain’s five-year bonds fell to 5.58pc while the yield on France’s 10-year bonds fell to 3.18pc.
Spain raised €3.75bn in the auction while France raised €1.57bn.
Analysts said the focus will remain on sovereign debt adding that the move by central bankers yesterday proved how concerned the were about bank funding.