MADRID (Reuters) - Spain's Treasury paid the highest average yield since the birth of the euro to issue 12-month bills on Tuesday in a key test of investor appetite for debt from a country many believe will soon be forced to apply for international aid.
Madrid issued 3 billion euros ($3.77 billion) of 12- and 18-month bills, at the top end of its target. The yield for the longer-dated paper was the highest since November when election uncertainty in Spain and global market jitters pushed yields on the same bill to 14-year highs.