The Spanish government’s treasury has sold €2.22bn of medium-term bonds, above the planned maximum of €2bn but at sharply higher yields.
The average yield on bonds maturing in 2014 was 4.706%, compared with 2.069% when they were last auctioned in March. The average rate on 2015 bonds was 5.547%, against 4.876% in May and the 2017 yield was 6.072%, up from 4.96% last month.
The sale follows the sale on 18 June of Spanish 10-year bonds when yields rose above the 7% level, which has previously been the trigger for sovereign bailouts of Greece, Ireland and Portugal.
Reports suggest that the Spanish government will shortly release the conclusions of two consultants’ reports into the recapitalisation needs of the country’s banks, following Spain’s request to borrow up to €100bn from its eurozone partners, although if full disclosure will be allowed is up for debate.
Belgian politicians have reached a consensus on CETA.
Today’s summit meeting between the EU & Canada to try to save the CETA free trade deal, after Belgium blocked it, has been scrapped after Canada's PM Trudeau cancelled his visit to Brussels.
The UK’s 1.91m freelancers say Brexit lowered their business performance in Q3 2016 and 51% expect it to harm their business in the next 12 months.
CETA requires the support of all 28 EU nations before it can be approved.