A woman uses an ATM machine at a BBVA bank branch in Madrid yesterday as Spain sold more short-term debt than planned at slightly lower rates than a month ago, attracting investors who traded on expectations that a sovereign aid request could be near. Ratings agency Standard & Poor’s cut Spain’s debt rating to one notch above junk on Friday, saying Madrid’s reluctance to ask for the rescue funds that would clear the way for the ECB to buy its bonds could drag on the new rating, which it kept on negative outlook.

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