Spain raises €6bn in auction but yields high
THE SPANISH government got bonds away today raising nearly double the intended level at €6bn.
It sold four, nine and 10 year bonds above the planned €2.5bn to €3.5bn but average yields remained above 5pc.
The sale was the last by a eurozone country ahead of the Christmas holidays.
But members of the eurozone-17 are bracing themselves for a slew of downgrades on the back of the sovereign debt crisis.