Portugal Auctions Government Bonds Worth 750 Milion Euros

According to news reports, Portugal auctioned government bonds worth 750 million euros ($997.1 million) on Wednesday. The value was at the bottom of the government's range of 750 million to 1 billion euros.

The reports added that four-year bonds worth 450 million euros were sold by the government at a yield of 4.695%, as compared to 3.621% in the previous sale. In addition, Portugal traded 10-year bonds worth 300 million euros at a 6.242% yield, against 5.312% in a former sale.

The number of bids for the three-year bonds was more than 3.5 times the supply, while the bid-to-cover ratio was 4.9 for the 10-year bond sale.

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