Nov. 27 (Bloomberg) -- Italy sold 3.5 billion euros ($4.5 billion) of zero-coupon bonds, the maximum set for the auction, at the lowest yield on a similar bond since October 2010.
The Rome-based Treasury sold the 2014 zero-coupon bonds to yield 1.923 percent, less than the 2.397 percent at the last auction of the same securities on Oct. 26. Investors bid for 1.5 times the amount offered, compared with 1.65 last month.
Italian bond yields have declined since ECB President Mario Draghi vowed in July to do what’s needed to preserve the euro and followed in September by announcing a bond-buying program for countries facing financing stress.
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