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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain 12-Month Letras Auction fell to 2.54% in May 2026
FMPMonthlyReleased June 2026
Spain 12-Month Letras Auction fell to 2.54% in May 2026, released June 2026, down 0.09% from April's 2.64% reading.
Latest Release
2.543000
Actual
—
Consensus
2.635000
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 | ▼ Inverse | −0.91 | FOREX | Bearish EUR | → View |
| GBP/USD | ▼ Inverse | −0.68 | FOREX | Bearish GBP | → View |
| BTC/USD | ▲ Direct | +0.52 | CRYPTO | Bullish BTC | → View |
| XAU/USD | ▼ Inverse | −0.48 | COMMODITIES | Bearish XAU | → View |
| S&P 500 | ▼ Inverse | −0.34 | INDEX | Bearish S&P 500 | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
12-Month Letras Auction (Spain) was reported at 2.54% in June 2026. The reading fell from the previous value of 2.64%. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged 2.07%, ranging from 1.95% to 2.54% across 9 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 2.23%, up from the prior three at 2%. Volatility over the past year (σ 0.17%) is lower than the prior year (σ 0.45%). In June readings over the past 3 years, 12-Month Letras Auction has averaged 2.61%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/USD (Bearish EUR). A secondary relationship exists with GBP/USD, negatively correlated (Bearish GBP).
WHAT TO WATCH NEXT
The next release is scheduled for July 7, 2026. Same-country events in the next 14 days include Balance of Trade (Jun 23) and Gross Domestic Product QoQ (Jun 25).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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12-Month Letras Auction - ES
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About 12-Month Letras Auction — Spain
DEFINITION
The 12-Month Letras Auction is a financial indicator that measures the demand for short-term government debt in a specific country. It is a monthly auction where investors bid on 12-month Letras, which are fixed-rate bonds issued by the government. This indicator provides insight into the current state of the economy and investor confidence in the government's ability to repay its debt. A high demand for Letras indicates a strong economy and stable government, while a low demand may suggest economic uncertainty or lack of confidence in the government's financial stability.
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 (Jun 2026): actual 2.543 %. Prior reading (May 2026): 2.635 %. Before that (Apr 2026): 2.611 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with EUR/USD (Bearish EUR, r=-0.91) — a useful reference for forex-focused traders.