Yields mixed at Treasury 5-year, 10-year bond auctions

Demand high for Italian paper, spread widens

(ANSA) - Rome, September 29 - 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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