Spain and France sold 13.05 billion euros ($17 billion) in debt, with both countries raising what they'd targeted amid rising borrowing costs.
Spain sold 2.54 billion euros of two- and 10-year securities and France raised 10.5 billion euros in debt out of an 11 billion-euro goal. The yield on the 10-year Spanish benchmark was 5.743 percent compared with 5.403 percent when it last sold it in January. France's five-year notes had an average yield of 1.83 percent today, up from 1.78 percent on March 15.
Yields have risen as Spanish Prime Minister Mariano Rajoy struggles to meet budget deficit targets and as Socialist Francois Hollande pulls further ahead in polls in the run up to France's April 22 presidential election. The yield on Spain's benchmark 10-year bond has jumped about 1 percentage point since the beginning of March to above 6 percent, while the yield on the equivalent French bond has gained more than 10 basis points.
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