Italy Sells 1-Year Bills at Half the Rate of Previous Auction
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Italy sold 12 billion euros ($15.3 billion) of Treasury bills, meeting its maximum target for the auction, and its borrowing costs plunged in the country’s first debt sale of the year.
The Rome-based Treasury sold 8.5 billion euros of one-year bills at a rate of 2.735 percent. That was the lowest rate paid on one-year debt at an auction since June and less than half the 5.952 percent offered at the last sale on Dec. 12. Italy also sold 3.5 billion euros of 136-day bills at 1.644 percent.