Spain sold €4.76 billion in debt auction despite fresh gloomy forecasts for the country's economy from the European Union.
The Spanish Treasury sold €3.04 billion in five-year bonds today on an average interest rate of 4.68%, down from 4.77% in the last such auction October 4.
It moved €992m in three-year bonds with a yield of 3.66%, down from 3.96% in October.
The Treasury also sold €731m in 20-year bonds at 6.33%.
Demand was more than double the amount offered for the five- and 20-year bonds and just under that for the three-year ones.
The European Union's executive body, the Commission, today predicted Spain's unemployment, currently 25%, would rise next year and that the country would have a deficit of 6.4% in 2014, more than double than pledged.
