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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain 10-Year Index-Linked Obligacion Auction climbed to 1.21% in June 2024
FMPMonthlyReleased July 2024
Spain 10-Year Index-Linked Obligacion Auction climbed to 1.21% in June 2024, released July 2024, up 0.17% from May's 1.04% reading.
Latest Release
1.212000
Actual
—
Consensus
1.042000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| EUR/GBP | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.35 | INDEX | Bullish EU | → View |
| EUR/JPY | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
10-Year Index-Linked Obligacion Auction (Spain) was reported at 1.21% in July 2024. The reading rose from the previous value of 1.04%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with DAX, positively correlated (Bullish EU).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Jun 23).
Auto-generated from current model state · Refreshes on each release · Last update July 2024.
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10-Year Index-Linked Obligacion Auction - ES
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About 10-Year Index-Linked Obligacion Auction — Spain
DEFINITION
The 10-Year Index-Linked Obligacion Auction is a financial indicator that measures the demand and pricing for government-issued bonds with a maturity of 10 years. These bonds are linked to an inflation index, providing investors with protection against rising prices. The auction process allows the government to raise funds by selling these bonds to investors, while also providing a benchmark for market interest rates. This indicator is closely monitored by investors and analysts as it reflects the overall sentiment towards the economy and inflation expectations.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2024): actual 1.212 %. Prior reading (May 2024): 1.042 %. Before that (Dec 2023): 1.199 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection.