Strong demand seen for Spanish bonds

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Strong demand seen for Spanish bonds

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There was strong demand for Spanish bonds during an auction held on Thursday.

The country sold 2.1 billion euros worth of medium and long term bonds.

The rate on the ten-year bonds topped six percent, up from 5.743 percent paid when the bonds were last sold in April.

The sale was being seen as key test of whether Spain could raise funds.

It comes two days after Budget Minister Cristobal Montoro said credit markets were “effectively shut” to Spain.