There was relatively quiet on the bond markets in Europe Tuesday, where a lack of news and remain closed trading in the U.S. meant very little fluctuation in interest rates.
Spain's economic growth lagged not quite as much as economists feared in the third quarter. Growth in gross domestic product, GDP, was Tuesday morning amounted to minus 1.6 percent in the third quarter compared with the same period last year. Economists had expected a decline of 1.7 percent, which was in line with data earlier this month from the Bank of Spain.
The negative growth rates make it increasingly difficult for Spain to tackle the country's debt, and the small positive surprise despite there was no relief to be seen in Tuesday's market. The yield on the ten-year, Spanish government bonds ended unchanged at 5.64 percent.
Italy's interest rates were also largely flat. The country otherwise showed fine performance, as it was in the market to sell bonds. There was sold five - and ten-year securities, and both were sold with lower interest rates than at the last similar auction in September. The ten-year went for 4.92 percent in interest rates, and in the secondary market the ten-year yield fell 2 basis points to 4.98 percent.
In addition, the economic confidence indicator for the eurozone in October decreased for the seventh month in a row and landed to 84.5 - close to economists' expectations of 84.4. Industrial confidence was particularly bad for the euro area.
This afternoon's single most important key figures - Consumer confidence in the United States - was postponed to Thursday because of disruptions from Hurricane Sandy.
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