The recently-appointed general of the Spanish Treasury, Rosa María Sánchez-Yebra, has kicked off her term in the best way possible. Yesterday, the Treasury met a goal that it had spent months thinking about as it sold 10 billion euros in 50-year notes.
This is the first time that Spain has issued debt with such a long term. The high yield on these bonds (the average is around 4%) compared to other financial products, plus the fact that investors have idle cash and hungry appetites, have driven this deal and recharged confidence in Spanish debt.