Italian 10-Year Bonds Stay Little Changed After Debt Sale

Italian 10-year bonds stayed little changed and five-year notes pared a decline after the nation’s borrowing costs fell at a debt sale.

Italy’s 10-year yield was little changed at 5.77 percent as of 10:23 a.m. London time, after earlier rising as much as seven basis points to 5.84 percent. The five-year rate was seven basis points higher at 4.81 percent, after climbing as much as 14 basis points before the auction.

Italy sold 7.29 billion euros of five-year and 10-year securities, compared with a 7.5 billion-euro maximum target. The yield on the new 10-year bond was 5.82 percent, compared to a rate of 5.96 percent at a similar auction on July 30.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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