This Tuesday, the Public Treasury placed a total of 2,582.4 million euros in 3- and 9-month bills, in what was the last auction of the year. The amount issued is within the expected average range. The profitability that the public body has had to offer to investors has fallen.
The average interest rate for 3-month bills has remained at 2.567%, below the 2.716% of the previous auction, the one held in November. Regarding 9-month securities, the average interest rate stood at 2.366%, compared to 2.68% last month.
With the result of this last auction, the short-term debt is adjusted to the price of these securities in the secondary market, in which they are exchanged once issued: 3-month bills are currently at 2.59% in this market, and 9-month securities at 2.40%.
The profitability offered by these debt securities has been reducing in recent months, in line with the rate cuts that the European Central Bank has been announcing since mid-2024. The entity has made three rate cuts so far. year, in June, September and, most recently, in October, each of them for 25 basis points. The marketor discount another drop, also of 25 points, at the ECB meeting this Thursday. And it anticipates another five similar cuts between now and October 2025, according to Bloomberg.
Several 3-month deposits are available on the market that beat the yield of the Letters. Highlights the of Grupo BFF, with 3.55%. It is necessary to contribute at least 5,000 euros. MyInvestor, Andbank’s neobank, allows you to save 3% with its 3-month deposit, as long as, of course, the client also contracts an automated portfolio for at least 150 euros. Without that extra link, this product pays 2.75%. At least 10,000 euros are necessary. MyInvestor surprised last week by announcing the launch of a new deposit at 4% APR for 1 month, contractable from 5,000 euros. It will be available until December 12. With this APR, whoever contributes those 5,000 euros would obtain approximately 16.6 euros in a month.
On the other hand, This same Tuesday Banco Big launched another product that pays 4% over 2 months. It is a product for new customers, and the minimum investment is 5,000 euros.
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