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Portugal auctions 1 bln euro short-term bonds

Xinhua, February 18, 2016 Adjust font size:

Portugal auctioned 1 billion euros in short-term bonds on Wednesday with higher yields than the pervious auction in December last year, according to Portuguese Treasury and Debt Management Agency (IGCP).

The ICGP said that 300 million euros in three-month bonds were sold at an average yield of 0.008 percent, higher than the all-time low of minus 0.023 percent at the last auction of the same kind on Dec. 16.

The remaining 700 million euros in 11-month bonds were sold at an average yield of 0.100 percent, higher than the 0.030 percent at the last auction of the same kind also on Dec. 16.

The IGCP also plans to auction between 3 billion and 3.75 billion euros in six auctions of bills in the terms of six and 12 months in the the first quarter of this year.

The rise of yields for the auctions due to worries of investors in the world markets after the Portugal's leftist Socialist Party took power in November last year and reversed the harsh austerity measures implemented by previous center-right coalition in the past few years, claiming to stimulate economic recovery in the debt-laden country. Endit