New Treasury Bill Auction: Three- and nine-month yields

The Treasury is holding a new Treasury Bill auction, which, like every second Tuesday of the month, is for three- and nine-month Treasury bills. The agency expects to raise up to €3 billion in this auction.

Treasury Bills are fixed-income securities that do not pay periodic interest, and their yield is calculated as the difference between the purchase price and the nominal value or redemption price of the bill.

The latest Treasury Bill auction was for six- and twelve-month Treasury Bills. Six-month Treasury Bills yielded a marginal interest rate of 1.896% , while twelve-month Treasury Bills yielded 1.914% . In total, the agency under the Ministry of Economy managed to place €5,379,779 million.

The Treasury Bill auction schedule has been set and, as always, will be held in the first two weeks of the month. These are the upcoming auctions:

The Treasury placed €2.479 billion in the last auction , and the auction result for this bond serves as a reference.

On three-month bills, a marginal interest rate of 1.890% was obtained, while on nine-month bills, the Treasury awarded this paper with a yield of 1.947% .

For 2025, the Treasury has increased its forecast financing needs by 5 billion euros, rising from 55 billion in 2024 to 60 billion euros. This is due to the need to respond to reconstruction and provide aid following the disaster that hit Valencia and other towns in Castilla-La Mancha in October.