The NY Times reports,

The Treasury said in Madrid that it had sold bills valued at €3.48 billion, or $4.9 billion, of short-term paper — substantially all of the €3.5 billion it had been targeting. It sold three-month securities priced to yield 2.292 percent on average — well above the 1.692 percent the securities fetched at a similar auction last month.

The bid-to-cover ratio, a measure of demand, rose to 3.07 times for the three-month securities from 2.47 percent in September.

Spain also sold six-month bills at an average yield of 3.302 percent, up from 2.665 percent in September. For the six-month securities, the demand ratio fell to 2.59 from 3.95 in September.

Spanish 10-year bonds were trading to yield 5.52 percent, little changed, Tuesday afternoon.

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