Government bond auction · Spain
Spain 20-Year Obligacion Auction
The Spain 20-Year Obligacion Auction is a sale of new government debt by Spain's treasury or debt agency to investors.
- Importancia
- Low
- Publicado
- Twice a year
- Divisa
- EUR · euro
- Banco central
- The European Central Bank (with the Banco de España)
Últimas cifras
El último dato se publicó el 2026-10-01 y fue 4.562%. Es más que 3.806% la vez anterior.
En las últimas 4 publicaciones osciló entre 3.758% y 4.562%, con una media de 4.006%. Ha subido tres publicaciones seguidas.
| Publicado | Para | Real | Consenso | Anterior |
|---|---|---|---|---|
| 1 Oct 2026 | – | 4.562% | – | 3.806% |
| 8 Jan 2026 | – | 3.806% | – | 3.758% |
| 7 Aug 2025 | – | 3.758% | – | 3.900% |
| 20 Mar 2025 | – | 3.900% | – | 3.710% |
Por qué importa
Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.
Cómo se calcula
Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.
Bid-to-cover = amount bid ÷ amount soldQué significan los cambios
- Bid-to-cover above its recent average and no tail: solid demand.
- Index-linked and green bonds are smaller auctions with their own investor base.
Una breve historia
Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.
Preguntas
What is the Spain 20-Year Obligacion Auction?
The Spain 20-Year Obligacion Auction is a sale of new government debt by Spain's treasury or debt agency to investors.
What was the latest Spain 20-Year Obligacion Auction?
4.562%, published on 1 October 2026.
Solo contenido educativo, no asesoramiento de inversión. Las cifras son los resultados publicados según los registra nuestro calendario; las reacciones del mercado descritas son típicas, no garantizadas.