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Rate on three-year Italian bonds drops to euro-era low

Interest rate drops to 1.41%

13 February, 12:05
Rate on three-year Italian bonds drops to euro-era low (ANSA) - Rome, February 13 - The interest rate on three-year Italian State bonds dropped to a euro-era low on Thursday, as the financial markets continued to largely ignore uncertainly about the future of Premier Enrico Letta's coalition government.

The Treasury sold all 3.5 billions euros' worth of the BTP bonds set to mature in December 2016 that it put up for sale at auction at an average interest rate of 1.41%.

That beat the previous euro-era low of 1.51% set last month.

Interest rates also fell at other bond sales this week, despite speculation Letta's own party, the centre-left Democratic Party (PD), may pull its support for the government to make way for a new administration headed by PD leader Matteo Renzi.

On Thursday the Treasury also sold 2.5 billion euros worth of seven-year bonds at an average interest rate of 3.02% and 1.5 billion euros' worth of 30-year BTPs at 4.59%, down from 5.19% at an equivalent auction in July.

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