Italy’s borrowing costs decreasing
Italian Treasury sold another round of long-term debt at the total of around 7 billion euros, with yields for 2014 and 2022.
The government targeted a sale at EUR 8.5 billion.
The country sold 10-year bonds at a yield of 6.98%, after November’s record high 7.56%. The 3-year bills were sold at a yield of 5.62%.
Today’s auction follows yesterday’s good sale of 6-month Italian bills, where borrowing cost also decreased.
Italian bond sales did not have a good impact on Euro, which fell almost a 1-year low against USD. The pair was traded at EUR/USD 1.2899.
