The Italian Treasury sold 5.5
billion euros of bonds due in 2019 and 2024 Monday.
About 2.5 billion euros in five-year bonds due in 2019 were
sold at an average yield of 1.06%, down four basis points from
the previous issue.
Another three billion euros worth of 10-year paper, due in
2024, was sold with an average yield of 2.45%, up six basis
points from the previous auction in late August.
Demand was high for the Italian bonds.
Meanwhile, the spread between Italy's benchmark 10-year
bond and its German counterpart rose to 146.5 basis points after
the auction, up from the day's opening spread of 143.5%.
The spread is a measure of financial market confidence in
the Italian economy, compared with what is generally seen as the
very safe German market.
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