The State placed 921 million euros with a marginal interest of -0.016% and a demand that has tripled the supply, or even more, in a bond auction in which investors agreed to pay interest to the state instead of receiving it, as is commonly dictated by economic logic. The Ministry of Economy affirmed that “This decrease confirms the confidence of investors in the effectiveness of the measures adopted by the Spanish Government” setting minimum rates and reducing costs to historical rates of 1.85%. Also, the Ministry maintains that this auction is “a message of confidence in the recovery and future of the Spanish economy”.
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The investors are looking to secure their returns in these times, selecting low-risk investments. In more than half of the eurozone, you do not have to pay for borrowed money, and you also get a minimal return, and Spain joins this list of countries. During the pandemic, States have been held responsible for restoring economic stability. The financing programme of Tesoro for 2020 in May was €100 billion, it began to vary in October for 15 million, and then another rebate of 5 000. In May, on the net issuance forecast of 130,000 million to face the needs caused by covid-19, the net issuance will be at 110 000 million and the gross issuance at about 277 000 million.
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