[ad_1]
The agency that manages the national public debt was on the market to perform a double auction in the short term. In total, 1,250 million euros were issued, interest rates being negative.
Thus, in the three-month issue, the IGCP placed 250 million euros, the rate falling to -0.425%. In the previous comparable issue, Portugal had reached a rate of -0.415%. The auction for this auction was 3.22 times higher than the bid.
In the 11-month issue, the IGCP issued 1,000 million euros, with a rate of -0.395%, against -0.368% in the April issue. Demand has increased, reaching 1.71 times the supply.
Portugal has been able to reissue a short-term debt with even more negative interest, at a time when it has benefited from a widespread decline in secondary market yields.
The expectation of a further easing of monetary policy, which intensified on Tuesday, June 18, after Mario Draghi admitted to boosting the economy, opening the door to a further reduction in monetary policy. interest rate, contributed to this performance.
[ad_2]
Source link
