Spanish Treasury Resumes Debt Auctions in August with New Issuance Plans

The Spanish Public Treasury has announced its plans to resume debt auctions in August after a brief pause. The first auction will take place on Tuesday, August 4, with bills for 6 and 12 months up for sale. This is a common practice, as the Treasury usually cancels the placement scheduled for August 20 due to the summer season.

In the last placement of these terms, the agency allocated 5.617 billion euros, raising the yield for six-month bills to 2.409%, the highest level since January 2025, and reducing it for one-year term bills to 2.523%.

The Treasury will also hold a new auction on Thursday, August 6, offering state bonds and obligations with various coupon rates and maturities. The marginal reference interest rates are at 2.840% for state bonds for 5 years; at 3.169% for state obligations for 7 years; at 3.399% for state obligations for 10 years, and at 1.577% for state obligations indexed to the eurozone inflation for 15 years.

The Treasury's financing needs remain unchanged, with a new target of 55 billion euros for 2026, similar to last year's figure. The agency plans to allocate 50 billion euros to medium and long-term debt placements, while the remaining 5 billion will be directed to Treasury bills.