The Treasury Ministry will hold the first banknote auction of the year next week after inaugurating the 2024 issues last Thursday, January 4th with a auction of bonds and bonds in which it raised almost 6,892 million eurosalbeit with lower returns than previous auctions.
Specifically, the agency dependent on the Ministry of Economy will auction next Tuesday, January 9, 6 and 12 month letters and with this it will inaugurate this year’s issues of this type of paper.
The last auction of 6 and 12 month bills was held on December 5, when the Treasury placed 3,977.3 million euros on these references, also with a lower profitability.
[Los españoles pulverizan el récord de inversión en letras del Tesoro: supera los 28.000 millones en 2023]
Specifically, the institution assigned 1,159.51 million euros in half-yearly bills, responding to a request for 2,777.09 million eurosand with a marginal profitability of 3,620%, lower than the previous 3,747%.
In the auction of annual bills of exchange on December 5, the agency dependent on the Ministry of Economy placed the bid 2,817.79 million euroswith requests from investors of 5,432.90 million, with a marginal interest of 3.327%, the lowest level since May, reports Europa Press.
[El coste de las nuevas emisiones del Tesoro alcanza niveles de 2007 al rozar el 4%]
Sovereign debt yields have started to fall after peaking reached in October and this was reflected in the auctions held since that date by the Treasury Ministry. However, investor demand remains strong, especially regarding bills of exchange.
In fact, during 2023, the high interest of national investors in this type of securities was particularly significant.
Retail investors thus increased their holdings to 21.3 billion euros at the end of last September, equal to 30% of the total banknotes in circulation, the highest level to date, compared to 2.4% at the end 2022.
Next Tuesday’s auction will be the second organized by the Treasury after the departure of Nadia Calviño to the European Investment Bank (EIB) and the appointment of Carlos Body, former secretary general of the Treasury, as Minister of Economy, Trade and Business public.
2024-01-07 12:18:11
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