Spain's bond sale Thursday is likely to be exciting, Danske Bank says, ahead of the country's auction of EUR1 billion to EUR2 billion of 2014-, 2015- and 2017-dated government bonds. "Spain's funding costs have risen dramatically this year and nail-biting excitement is almost guaranteed this time," notes Kasper Kirkegaard, a senior analyst at Danske Bank. Despite a relief rally in European markets Wednesday, with peripheral spreads narrowing, sentiment remains cautious, Kirkegaard says, adding that it's hard to see why markets should turn bullish without any solution to the problems in non-core euro countries. Auction results are due between 0830 GMT and 0845 GMT.
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