Spain managed to borrow 2.22 billion Euros this morning. It was hoping to raise 7.7 billion. The Wall Street Journal pointed out that this was “thanks to demand seen overwhelmingly coming from domestic banks”.
The coupon obtained by lenders for 2 years was 4.706% (compared with 2.069% on the 1st March); over 3 years it was 5.547% (compared to 4.876% on the 17th May) and over 5 years it was 6.072% (compared to 4.960% on the 3rd May).