SCOREBOARD: Strong bonds

Spain and Italy are raising money with greater success, but softer data halted market momentum.

Well the good news is that Spain and Italy are raising cash much more cheaply than they were only a month ago. Spain issued €4.272 billion of a 4 per cent 07/2015 bond at a yield of 3.38 per cent, which compares very favourably to the 5.187 per cent they had to pay in December. Bid/cover was good at 1.8 and it was even better for the 04/2016 bond, at 2.2 (yield of 3.748 per cent, down from 4.871 per cent last time). The 10/2016 bond went out at a yield of 3.912 per cent, which is down sharply from the 4.848 per cent they paid last time and given the original target was for €4-5 billion and they put out basically double that, it was regarded as a very good auction indeed.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles