3-y Bond Auction

Displayed in the calendar is the average yield on the Bonos del Tesoro auctioned by Ministerio de Economía y Hacienda. Spanish bonds have maturities of above two years. The yield on the bonos represents the return an investor will receive by holding the bond until maturity. Investors monitor the yield volatility and compare the average rate at auction to the rate at previous auctions of the same security as an indicator of the government debt situation.