Spain’s one-year borrowing costs rose in an auction today ahead of a meeting between Premier Mariano Rajoy and European Central Bank President Mario Draghi. Spain sold 5.57 billion euros ($7.46 billion) of six- and 12-months securities, exceeding the Treasury’s upper goal of 5.5 billion euros. It sold six-month bills at an average 0.859 percent, down from 0.888 percent on Jan. 22. The 12-month securities yielded 1.548 percent, up from 1.472 percent on Jan. 15. Demand for the six-month bills was 2.88 times the amount sold, compared with 3.85 last month, and the ratio was 1.97 compared with 2.21 on the longer-dated ... (full story)