Italian Government Bonds Advance After $6.4 Billion Debt Auction
Italian 10-year bonds advanced and three-year notes erased a decline after the nation sold 4.88 euros ($6.4 billion) of government debt.
Italy’s 10-year yield fell seven basis points to 5.47 percent as of 10:40 a.m. London time. The three-year note yield was little changed at 3.96 percent after rising as much as six basis points to 4.02 percent.
The nation sold 2.885 billion euros of 2.5 percent notes due 2015 at an average yield of 3.89 percent, the Bank of Italy said. That compares to 2.76 percent the last time the securities were offered on March 14. Investors bid for 1.43 times the debt allotted.
Italy also sold 3 percent notes due 2015 and bonds maturing in 2020 and 2023.
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