Spain has successfully raised ¤3.5 billion ($4.83 billion) at a debt auction, with lower interest rates reflecting easing market fears over the country's ability to manage its debt, according to AP. The Treaury raised ¤1.89 billion in three-year bonds with the average interest rate down to 3.25 percent from 3.72 percent in the last such auction on Dec. 2. It sold ¤1.61 billion in five-year bonds with the rate down to 4.04 percent from 4.54 percent in January. Demand was strong, at twice the amount offered for three-year bonds and nearly twice the offer for the five-year bills. The sale was the first since ratings agency Standard & Poor's on Tuesday maintained Spain's AA rating and praised government measures to get the economy moving after nearly two years of recession.
