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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain 12-Month Letras Auction climbed to 2.83% in August 2026
FMPMonthlyReleased September 2026
Spain 12-Month Letras Auction climbed to 2.83% in August 2026, released September 2026, up 0.17% from July's 2.66% reading.
Latest Release
2.832000
Actual
—
Consensus
2.663000
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 | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.47 | INDEX | Moves with | → View |
| BTC/USD | ▲ Direct | +0.31 | CRYPTO | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.29 | COMMODITIES | Moves against | → View |
| USD/JPY | ▲ Direct | +0.28 | FOREX | Moves with | → 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 2.83% in September 2026. The reading rose from the previous value of 2.66%. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 2.27%, ranging from 1.99% to 2.83% across 10 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 2.67%, up from the prior three at 2.23%. Volatility over the past year (σ 0.31%) is higher than the prior year (σ 0.25%). In September readings over the past 3 years, 12-Month Letras Auction has averaged 2.59%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500). A secondary relationship exists with BTC/USD, positively correlated (Bullish BTC).
WHAT TO WATCH NEXT
The next release is scheduled for October 6, 2026. Same-country events in the next 14 days include Balance of Trade (Sep 22) and Retail Sales MoM (Sep 29).
Auto-generated from current model state · Refreshes on each release · Last update September 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 (Sep 2026): actual 2.832 %. Prior reading (Aug 2026): 2.663 %. Before that (Jul 2026): 2.5 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar 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 S&P 500 (Bullish S&P 500, r=0.47) — a useful reference for index-focused traders.
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EXPECTED ZONE
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