March 6, 2021

The Treasury continues to meet your expectations


The Public treasure this Thursday, 4,018 million euros were collected, divided into 1,402 million at 5 years at an interest of -0,237%, 1,385 million in 10-year obligations at an interest of 0.307%, 826 million in 15-year obligations with an interest of 0.608%, and Finally 404 million in 30-year obligations with an interest of 1,286%. Demand has again exceeded supply, however on this occasion it has not done so with as much difference as the past emissions.

The ECB made it clear last week that it is thinking of introducing new stimulus measures to try to pick up both growth and inflation. Among the possible measures that could be announced during the month of September, there is a new drop in rates, reducing the deposit rate or resuming the asset purchase program. All these measures should continue to press down on the profitability of sovereign debt, thus lowering the average type of financing.

This week the GDP data for the second quarter of the year was published in Spain, which was 0.5%, two tenths less than the previous quarter. Within the main European economies, Spain is the fastest growing, but for a year and a half it is experiencing a progressive slowdown. In the event that this trend continues, it could force the State to increase its financing needs.

. (tagsToTranslate) joaquín robles



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