Italian 5-Year Notes Stay Higher As Nation Sells 3 Billion Euros of Debt

Italian five-year notes stayed higher as the nation auctioned 3 billion euros ($4.11 billion) of debt, the maximum target for the sale.

The yield on the securities fell two basis points to 6.44 percent at 10:11 a.m. London time.

The Rome-based Treasury sold notes maturing in September 2016 to yield 6.29 percent, the highest since June 1997 and up from 5.32 percent at the last auction on Oct. 13. Demand was 1.47 times the amount on offer, compared with 1.34 times last month.

To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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