MADRID, Jan 10 (Reuters) – Spain raised 15 billion euros from a 10-year bond sale on Wednesday on the back of record investor demand exceeding 130 billion euros, its Treasury said, adding this demonstrated investors’ “high confidence” in the Spanish economy.

Demand surpassed the previous record of 97 billion euros Spain saw for a bond sale at the height of the COVID-19 pandemic in 2020.

Bond sales across Europe have attracted strong demand this week, providing good news for governments as they face high funding needs, and reflecting appetite from investors who expect hefty central bank rate cuts this year.