Italy Sells 567 Million Euros of Bonds Due 2023 at 7.3%
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Italy sold inflation-linked bonds to yield 7.3 percent, the second time in a week that the Treasury auctioned debt above the 7 percent threshold that led Greece, Portugal and Ireland to seek bailouts.
The Rome-based Treasury sold 567 million ($759 million) of the bonds due September 2023, less than the 750 million-euro maximum for the sale. The Treasury hasn’t sold the bonds since March of 2010, when it paid 2.19 percent. Demand was 2.16 times the amount sold.