Spain EUR

Spain 15-Year Index-Linked Obligacion Auction

Impact:
Low

Latest Release:

Date:
Actual:
1.678%
Forecast:
Previous/Revision:
1.536%
Period:
What Does It Measure?
The Spain 15-Year Index-Linked Obligacion Auction measures the success and demand for Spain’s inflation-linked bonds with a maturity of 15 years. This economic event primarily focuses on the country's debt financing costs and investor confidence by assessing the bidding behavior, yield rates, and overall take-up of the offered bonds.
Frequency
The auction occurs periodically, typically on a monthly basis, and the results are reported shortly after the auction closes, providing a timely reflection of market demand for government securities.
Why Do Traders Care?
Traders pay close attention to this auction as it indicates investor sentiment towards Spanish government debt, influencing sovereign bond yields and providing insight into broader market confidence. Additionally, strong demand at auction can lead to a strengthening of the euro and impact stock markets, while disappointing results may have the opposite effect.
What Is It Derived From?
The auction results are derived from competitive bids submitted by institutional and retail investors, reflecting their willingness to purchase the bonds at specific yields. The final yield is determined by the highest accepted bid that satisfies the total amount offered, thus showing market interest and risk assessment for inflation-linked debt.
Description
The results from the Spain 15-Year Index-Linked Obligacion Auction include the total amount sold, the average yield accepted, the bid-to-cover ratio, which indicates demand, and the final allocation of bids. Preliminary results are often reported quickly, but final figures may be revised as settlements occur, which adds context to investors evaluating market conditions. The month-to-month analysis helps assess trends in investor confidence regarding inflation and fiscal stability in Spain.
Additional Notes
This auction serves as a coincident economic indicator, reflecting real-time investor risks and expectations regarding inflation. Additionally, it can be compared to other sovereign bond auctions within the Eurozone, providing insight into Spain's relative fiscal health against its peers.
Bullish or Bearish for Currency and Stocks
Higher than expected demand: Bullish for EUR, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Jun 05, 2025
1.678%
1.536%
Jan 09, 2025
1.536%
1.297%
Oct 03, 2024
1.297%
1.392%
Jun 06, 2024
1.392%
1.329%
Apr 04, 2024
1.329%
1.381%
Mar 07, 2024
1.381%
1.13%
Jun 01, 2023
1.13%
1.06%
Apr 13, 2023
1.055%
1.164%
Mar 02, 2023
1.164%
1.02%
Jan 12, 2023
1.02%
0.607%