Flashes out of Reuters on Monday suggest the Spanish Treasury has decided to cut the amount of money it will raise from the bond markets this year by 34 per cent:
RTRS-SPANISH TREASURY SAYS TO RAISE NET 76.8 BLN EUROS FROM MARKETS IN 2010, DOWN 34 PCT VS 2009.
RTRS-SPANISH TREASURY TO RAISE GROSS 97 BLN EUROS IN LONG-TERM PAPER (NET 61.6 BLN)
As a reminder, here’s what the Spanish debt rollover schedule looks like:
And here’s a more detailed view from Bloomberg, reflecting total debt outstanding from a short-term bill, government bond and international bond perspective:
On a sidenote, earlier rumours suggesting Deutsche Bank and UniCredit Group had stopped accepting Greek bonds as collateral and were refusing to lend in the repo market for Greek banks are yet to be confirmed.
The speculation arose in a story published on www.bankingnews.gr, a publication FT Alphaville has not come across and hence cannot vouch for.
Related links:
Next to the trough…- FT Alphaville
The sovereign ‘Northern Rock’ funding model – FT Alphaville
The sovereign debt premium – FT Alphaville