Italy Notes Reverse Drop as Greece Sells More Bills Than Planned
Italian two-year notes reversed a decline and Spanish securities pared a drop after Greece raised more than its maximum target at an auction of bills.
The yield on Italy’s two-year note fell four basis points to 3.44 percent at 10:25 a.m. London time. It earlier climbed as much as eight basis points.
Spain’s two-year rate was little changed at 4.27 percent after climbing to 4.34 percent.
Greece sold 4.06 billion euros of three-month bills, exceeding its 3.125 billion-euro target, according to the Athens-based Public Debt Management Agency.
The rate on Greek debt due in February 2023 was 16 basis points higher at 24.5 percent, with the price falling to 19.62 percent of face value.
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