Treasury Seeks 2-3 Billion Euros Ahead of Expected ECB Rate Hike

The Spanish Treasury will hold an auction today to raise between 2 and 3 billion euros through the issuance of three- and nine-month bills.

This comes ahead of Thursday's European Central Bank interest rate decision, which is widely expected to result in a rate hike.

In its previous auction, the Treasury raised 2.072 billion euros by increasing the yield offered to investors in the three-month tranche to its highest level in over a year and a half, with a marginal interest of 2.399%.

The Treasury will return to the debt markets on September 17 with a new issuance of state bonds and obligations, which will be held after the ECB's decision.