Belgian Borrowing Costs for One-Year Bills Drop to 5-Month Low

Belgium sold 2.96 billion euros of 3-month and 12-month treasury bills, compared with a target of 3 billion euros, as borrowing costs for one-year debt fell to the lowest level in five months.

The debt agency in Brussels said it sold 1.2 billion euros of 12-month securities at a weighted average yield of 1.162 percent, compared with 2.167 percent at the previous auction on Dec. 13. Demand for the one-year debt was 2.06 times the amount sold, down from 2.21 times in December.

Investors also bought 1.76 billion euros of three-month bills at an average yield of 0.429 percent, compared with 0.264 percent in the previous sale on Jan. 3. They sought 2.24 times the amount sold, up from 2.13 times two weeks ago.

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