Spain sold 4.7 billion euros of bonds at the bond yield continued to decline.

Spanish authorities said. Spain can raise funds by selling bonds in the amount of 4.7 billion euros today. Than the maximum target set at 4.5 billion euro bond redemption is scheduled for the year 2559 and 2566.

The Spanish 10-year bonds at an average yield 4.612%, down from the auction held on March 21 at 4.898% and 5-year bond yield was at 3.257%, down from last week's auction. at 3.557%.
Investors still have confidence in the Spanish economy. Yesterday revealed that the Spanish Sociological Research. March consumer confidence index. York. Located at 52.1 points, up 1.4 points from the previous month. K. Consumers with a view to improving the current situation.

Confidence that the Spanish can also raise funds in financial markets has continued. By recently. Spanish bond auction of 4.31 billion euros (5.53 billion dollars), while bond yields remained relatively stable. Which reflects that. Crisis in the banking sector of Cyprus hardly affect the confidence of investors towards Spain.

However, Spain's borrowing costs declined in the months to come. Because investors are less concerned since the European Central Bank announced that Spain is ready to assist in resolving the debt if necessary.

However, Moody's Investor Service estimates that the budget deficit of Spain in the year 2556 is 6% of gross domestic product (GDP), higher than the target, the European Union (EU) set out. at the level of 4.5%.

Moody's said in a report called "Spain: Despite Progress in Fiscal Consolidation in 2012, Deficit Targets Remain Elusive in 2013" that the trend of the reliability of Spanish government bonds was placed in the negative. Because Spain still face the ongoing challenge of achieving a reduction in the budget deficit.