LONDON (ShareCast) - Portugal held a Treasury debt auction this morning and was able to fetch lower yields than those achieved during the previous one. Portugal issued €300m in 3-month Treasury bills with a yield of 3.845% compared to 4.068% and a bid-to-cover ratio of 10.3 compared to 2.8 in the previous auction. The Portuguese Treasury issued €1.2bn in 6-month bills with a yield of 4.332% compared to the previous 4.463% and a bid-to-cover ratio of 2.5 compared to the the previous 2.5. Finally, Portugal issued €1.5bn in 12-month notes with a yield of 4.943% compared to the previous 4.986%. Demand was two times more than supply compared to 2.1 in the previous auction. S.C.
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