Risk Appetite Remains Weak as Spain's Bond Sales Miss Expectations

The euro and other growth currencies remained under pressure as Spain's final bond sales this year missed target. The country sold 1.78B euro of 10-year bonds and 618.7M euro of 15- year bonds. The total of 2.4B euro missed the Treasury's expectations of 3B euro. Average yields were also higher than previous sales. The disappointment was driven by Moody's warning it would downgrade Spain's Aa1 credit rating.

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Risk Appetite Remains Weak as Spain's Bond Sales Miss Expectations