Interest rates fall by half in Portuguese auction – Economic

Interest rates fall by half in Portuguese auction – Economic

Mariana Adam

mariana.adam@economico.pt

10:55

Portugal spent more time testing the markets: put the maximum amount provided 1,000 million euro and saw interest rates to fall in two auctions of Treasury bills at 3 and 12 months

The Portuguese Treasury placed € 800 million a year and the interest rate fell from 0.453% to 0.216% on maturity. Demand exceeded supply 1.79 times against 2.05 recorded in the last comparable auction

Portugal sunk further EUR 200 million in the shortest line, three months, with a yield of 0.097%. – on 18 June the interest was 0.18%. This maturity demand exceeded supply 3.35 times compared to 1.6 times the previous auction.

Portugal so successfully passed one more test to market, first with Cristina Casalhinho ahead of the Institute of Management Public Credit (IGCP) -epois John Moreira Rato have left the leadership of the agency to take over the financial management of the New Bank, which took over the assets ‘good’ belonging to Banco Espírito Santo (BES ).

The agency that manages the Portuguese public debt expected to fit between 750 million and € 1,000 million and achieved the maximum previsto.O IGCP today auctioned Treasury bills that mature in three and 12 months, managing to raise the Wish billion euros and fund themselves at lower interest rates.