2023-10-08 08:00:52
Households have gone from having 25 million euros in July 2022 to treasure letters to 18,523 million in July 2023, while non-financial companies have increased their holdings of short-term debt from 46 million to 6,485 million.
The high profitability of short-term securities has had a very considerable effect on the distribution of Treasury Bill holdings, where households and non-financial institutions have notably increased their participation in the last year, going from a share of 0, 1% in July 2022 to 35.2% in July 2023.
Specifically, households have gone from having 25 million euros in July 2022 to 18,523 million in July 2023 in the last year, and non-financial companies from 46 million to 6,485 million.
And the improvement in the interest rates offered, in line with the latest increases in interest rates by the ECB, has maintained the markets’ investor appetite for Spanish securities.
Thus, individual investors are showing great interest in purchasing debt, mainly in the short term, given its high profitability, which has been growing since the beginning of 2022, especially in the case of shorter-term bills.
In fact, according to the latest data published by the treasureindividual investors hoarded 16,608 million euros in bills until June, 23.39% of the total, being the second holders in the purchase of this type of debt, after non-residents, who grouped 23,675 million (33.34% of the total).
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