December 5, 2012 / 10:06 AM / in 5 years

EURO GOVT-Spanish yields rise after debt auction

LONDON, Dec 5 (Reuters) - Spanish 10-year government bond yields rose on Wednesday after the country sold 4.25 billion euros worth of debt at an auction, less than the maximum target.

“A bit disappointing that they didn’t manage to raise the full amount,” RIA Capital Markets bond strategist Nick Stamenkovic said. “That caused a bit of a correction in the market. But the yields are still down from the previous auction and demand is still pretty decent out there.”

Spanish 10-year yields extended a rise to stand up 10 basis points on the day at 5.37 percent. German Bund futures were 12 ticks higher on the day at 142.86, having fallen as low as 142.54 earlier in the session.

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