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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain Index-Linked Obligacion Auction fell to 3.73% in December 2024
FMPMonthlyReleased January 2025
Spain Index-Linked Obligacion Auction fell to 3.73% in December 2024, released January 2025, down 0.03% from November's 3.76% reading.
Latest Release
3.727000
Actual
—
Consensus
3.755000
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
Index-Linked Obligacion Auction (Spain) was reported at 3.73% in January 2025. The reading fell from the previous value of 3.76%.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 2.13%, up from the prior three at 1.63%. In January readings over the past 3 years, Index-Linked Obligacion Auction has averaged 2.03%.
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) and Gross Domestic Product QoQ (Jun 25).
Auto-generated from current model state · Refreshes on each release · Last update January 2025.
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Index-Linked Obligacion Auction - ES
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About Index-Linked Obligacion Auction — Spain
DEFINITION
The Index-Linked Obligacion Auction is a financial indicator used to determine the market demand for government-issued bonds that are linked to a specific index, such as inflation or interest rates. This auction allows investors to purchase these bonds at a competitive market price, providing a reliable measure of the current market sentiment towards these types of securities. The results of the auction can also provide insights into the overall economic outlook 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 (Jan 2025): actual 3.727 %. Prior reading (Jan 2025): 1.536 %. Before that (Nov 2024): 1.112 %.
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.