The Spanish Public Treasury returns to the market this week with an auction of 6- and 12-month bills to be held on Tuesday, waiting for the European Central Bank (ECB) to decide two days later. come together to undertake a new rise in interest rates that could even be 75 basis points.
The market is considering this possibility after last weekend some members of the organization such as Isabel Schnabel advocated more rate hikes, and discuss an increase of 75 basis points at the next meeting.
At the same meeting, in Jackson Hole (Wyoming), the president of the US Federal Reserve (Fed), Jerome Powell, said that he must continue raising rates and keep them at a higher level until inflation is under control, and this, despite the economy.
The fact that rates will remain high for longer than expected by the market has caused a new rise in the yield of sovereign debt, which could raise the cost of Spanish financing.
This Thursday, September 1, the Treasury held the first auction of the month, and in it, it placed 5,369 million euros in four different denominations of medium and long-term debt that, in all cases, came out at higher interest.
Ten-year debt reached the highest marginal interest since 2014 (2.822%).