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A Mending Spain Finds Willing Bond Buyers
Keywords:
Spain sold 4.5 billion euros of debt, on Jan 17, 2013. The average interest rate on 2 year bonds was 2.71%, down from 3.36% in Dec. 2012. The interest rate on the 10 year Spanish bond was at 5.03%.
Spain- debt, credit ratings, and borrowing costs 2011-2014
01/04/2011
Bond yields for Spanish government bonds in 2011-2014.
Grouped Articles
Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Netherlands Loses Triple-A Rating, Spain Outlook Raised
Wall Street Journal 11/30/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
The ECB's Long Term Financing Operation Dec. 2011- March 2012
11/10/2011
The ECB's newly created Long Term Financing Operation enables European banks to meet their financing needs by borrowing from the European Central Bank at low rates of 1% for three years. Mid size banks in Spain buy government bonds of Spain and use the bonds as collateral at the ECB to access this lowcost funding. This has helped bring down rates at a recent auction of Spain's bonds from 5.1% to 1.7%. Italian banks also participated in the same way. 523 European banks borrowed 489 billion euros on Dec. 21, 2011, under this newly created financing operation of the ECB. This provides European banks financing as they are shutoff from normal financing by selling unsecured bonds to private and institutional lenders. This helps banks in the eurozone meet financial needs in 2012 without reducing lending to businesses and consumers.
Grouped Articles
German Court to Weigh Bond Buying by E.C.B.
New York Times 06/10/2013
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
Euro-Zone Banks Tap Big ECB Loans
Wall Street Journal 12/21/2011
Staring Into the ECB's Mini Bazooka
Wall Street Journal 12/21/2011
A Central Bank Doing What Central Banks Do
New York Times 12/21/2011
European Banks Rush to Grasp Lifeline
Wall Street Journal 12/22/2011
Spain's debt financing and bond issuance in 2012-2013
01/04/2011
An improving situation after Draghi's policy statements on July 23, 2012 about the ECB's committment to the euro and reducing excessive borrowing costs of Italy and Spain.
Grouped Articles
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
New Spanish Budget Free of Austerity Measures
New York Times 09/27/2013
Bonds of Italy, Spain Narrow Gap With U.S., German Yields
Wall Street Journal 04/09/2014
As Bond Markets Twist, Investors Shout
Wall Street Journal 06/10/2014
Wall Street Journal 06/10/2014
Spain Sale Improves Funding Prospects
Wall Street Journal 09/21/2012
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