The Public Treasury will hold two new debt issues this week, a first of 3- and 9-month bills on Tuesday and a second of long-term debt on Thursday, in a context of historical lows in the rates of its latest auctions and optimism in the markets for updates on Pfizer vaccine advancements.
Investors maintain, despite the crisis and the downward revisions of growth forecasts for Spain by various organizations, their confidence in Spanish securities as shown by the results of the latest auctions.
In the last one, last Tuesday, it captured 2,452.39 million euros in six- and twelve-month bills, in the expected mid-range and charging investors a little more in both references, which returned to the historical lows that already scored in September 2019.
This week, the Treasury will offer 3 and 9-month bills to investors on Tuesday and on Thursday it will issue 5-year government bonds, with a 0% coupon, and 7-year government bonds (maturing July 30, 2027), with coupon of 0.80%.
To determine the evolution of the financing cost, the reference in the three-month bills is the marginal interest rate of -0.671% on October 13, and in the nine-month bills the marginal rate of -0.581% registered that same day.
In the case of long-term debt, the reference for the 5-year bond to be auctioned on Thursday is the marginal rate of -0.325% of the issue of October 15, and in the 7-year obligations the interest of The reference is the -0.033% interest registered in the issue of September 17.
With these two issues, the agency will close the October calendar and will not return to the markets until December 1, to face the last month of a year marked by the Covid-19 pandemic that has forced the strategy to be reviewed twice. financing from the Kingdom of Spain.