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.