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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain 3-Month Letras Auction climbed to 2.46% in August 2026
FMPMonthlyReleased September 2026
Spain 3-Month Letras Auction climbed to 2.46% in August 2026, released September 2026, up 0.07% from July's 2.39% reading.
Latest Release
2.456000
Actual
—
Consensus
2.387000
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 |
|---|---|---|---|---|---|
| BTC/USD | ▲ Direct | +0.74 | CRYPTO | Moves with | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
3-Month Letras Auction (Spain) was reported at 2.46% in September 2026. The reading rose from the previous value of 2.39%. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 2.11%, ranging from 1.91% to 2.46% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 2.4%, up from the prior three at 2.12%. Volatility over the past year (σ 0.2%) is lower than the prior year (σ 0.37%). In September readings over the past 3 years, 3-Month Letras Auction has averaged 2.4%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Bullish BTC). A secondary relationship exists with S&P 500, positively correlated (Bullish S&P 500).
WHAT TO WATCH NEXT
The next release is scheduled for October 13, 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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3-Month Letras Auction - ES
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About 3-Month Letras Auction — Spain
DEFINITION
The 3-Month Letras Auction is a financial indicator that measures the demand for short-term government debt securities in a specific country. This auction allows investors to purchase 3-month Letras, which are fixed-income securities issued by the government, at a competitive interest rate. The results of this auction provide valuable insights into the current economic climate and investor sentiment, making it a key indicator for financial analysts and policymakers.
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 2.456 %. Prior reading (Aug 2026): 2.387 %. Before that (Jul 2026): 2.366 %.
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 BTC/USD (Bullish BTC, r=0.74) — a useful reference for crypto-focused traders.
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EXPECTED ZONE
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Economic Calendar - ES Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:00 | ES | Harmonised Inflation Rate MoM | 0.7 | 0 | 0.6 | 0.65 | Low |
| 07:00 | ES | Harmonised Inflation Rate YoY | 4.6 | 3.9 | 4.5 | 4.55 | Low |
| 07:00 | ES | Inflation Rate MoM | 0.7 | 0.3 | 0.7 | 0.70 | Low |
| 07:00 | ES | Core Inflation Rate YoY | 2.9 | 3 | 2.9 | 2.90 | Low |
| 07:00 | ES | Inflation Rate YoY | 4.3 | 3.6 | 4.3 | 4.30 | Low |