EURO GOVT-Spanish yields fall below 5 percent to 10-month low

LONDON Thu Jan 10, 2013 5:46am EST

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LONDON Jan 10 (Reuters) - Spanish government bond yields fell below 5 percent on Thursday, reaching a 10-month low on the back of a strong bond auction that raised more than the target amount.

The 10-year Spanish bond yield hit 4.99 percent, down 15 basis points on the day and reversing an earlier rise.

The turnaround was spurred by a bond auction that raised 5.8 billion euros, above the 4 to 5 billion euros Spain had originally targeted, and helped ease some concerns about the country's ability to fund itself in 2013.