FX.co ★ Spanish 3-Month Letras Yield Inches Higher to 2.652% in Latest Auction

Spain’s Treasury saw a slight uptick in short-term funding costs at its latest 3-month Letras auction, with the yield rising to 2.652%, up from the previous 2.635%. The updated data, published on 10 November 2026, indicate a marginal increase in the return demanded by investors for holding Spain’s short-dated sovereign paper.

While the move is modest, the higher yield suggests a continued cautious tone in short-term money markets. The 3-month Letras are a key barometer of immediate funding conditions for the Spanish government and an indicator of how investors are pricing near-term interest rate and liquidity expectations.