The Spanish treasury placed on Tuesday six-month treasury bills at negative interest rates for the first time in history.

The placement included 725 million euros (786 million U.S. dollars) worth of six-month treasury bills that carried an average interest rate of -0.002 percent, while the marginal interest rate stood at 0 percent.

The treasury also placed 3.920 billion euros of 12-month treasury bills that fetched an average interest rate of 0.006 percent, which was below the 0.067 percent of the previous auction. The marginal interest rate also fell from 0.07 percent in the previous auction held in March to 0.01 percent on Tuesday.

Spain's Secretary of State for the Treasury Rosa Maria Sanchez-Yebra said Tuesday was "a very good day for Spaniards" after the Treasury placed treasury bills with a value of 4.646 billion euros selling six-month treasury bills at negative interest rates.

Sanchez-Yebra said that the bond buying programme designed by the European Central Bank (ECB) had calmed financial markets across the Eurozone having also a positive impact on Tuesday's auction. (1 euro = 1.09 U.S. dollars) Endit

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