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2026-05-27 20:14:13
[€138 Billion Frenzy for Spanish 10-Year Bonds, Yield Premium Squeezed to 6 Basis Points Amid Geopolitical Turmoil] ⑴ The Spanish Treasury successfully issued €13 billion of its benchmark 10-year bonds through a syndicate on Wednesday, with final demand reaching €138 billion. The Treasury stated that the strong demand "once again underscores investor confidence in the Spanish economy amid heightened international geopolitical uncertainty." ⑵ Spain lowered its yield guidance from an initial 8 basis point premium over comparable outstanding bonds to 6 basis points. The bonds mature on October 31, 2036. The lead underwriters for this issuance included BBVA, Citigroup, Deutsche Bank, Morgan Stanley, Santander, and Société Générale. ⑶ Spain plans to issue a net €55 billion in bonds in 2026. Earlier this year, its 10-year and 30-year bond issuances recorded record demand, with demand for 10-year bonds approaching €145 billion in January.
