Spanish auction results: Spain sold Euro9.98bln (target of Euro 4-5bln)

Sold Euro 4.27 bln of new 4% July 2015, yield 3.384% , cover 1.8

Sold Euro 2.5 bln of 3.25% April 2016, yield 3.748% (vs 4.871) , cover 2.21 (vs 2.9)

Sold Euro 3.21 bln of 4.25% October 2016, yield 3.912% (vs 4.848) , cover 1.71 (vs 1.62)

Overall a very positive auction with double the target amount sold and the EUR rallying on the back of it around 1.2740