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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain 3-Month Letras Auction climbed to 2.37% in June 2026
FMPMonthlyReleased July 2026
Spain 3-Month Letras Auction climbed to 2.37% in June 2026, released July 2026, up 0.13% from May's 2.24% reading.
Latest Release
2.366000
Actual
—
Consensus
2.239000
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 | +0.69 | CRYPTO | Moves with | → View |
| S&P 500 | ▲ Direct | +0.44 | INDEX | Moves with | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | 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 2.37% in July 2026. The reading rose from the previous value of 2.24%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 2.02%, ranging from 1.91% to 2.37% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 2.25%, up from the prior three at 1.95%. Volatility over the past year (σ 0.15%) is lower than the prior year (σ 0.42%). In July readings over the past 3 years, 3-Month Letras Auction has averaged 2.52%.
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
Same-country events in the next 14 days include Balance of Trade (Jul 21).
Auto-generated from current model state · Refreshes on each release · Last update July 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 (Jul 2026): actual 2.366 %. Prior reading (Jun 2026): 2.239 %. Before that (May 2026): 2.154 %.
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=0.69) — a useful reference for crypto-focused traders.
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EXPECTED ZONE
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