Spain Raises 4.8 billion euros at 5.66 percent yield

Spain's borrowing costs eased at the country's latest bond auction where it raised 4.8bn euros (£3.84bn) after selling three and 10-year bonds.

There was strong demand for the 10-year bonds, with investors bidding for nearly three times the amount on offer.

The average yield was 5.66%, down from 6.65% at the previous auction, and below the 5.95% average for the year.

The government's borrowing costs have fallen since the European Central Bank announced its bond-buying plan.

via BBC