Italian Bonds Drop for Third Week as Boost From ECB Loans Wanes
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Italian bonds fell for a third week as the nation missed its target at a debt auction and the boost to demand for the securities from European Central Bank liquidity measures waned.
Italy auctioned 8 billion euros ($10.6 billion) of bonds and floating-rate securities on March 29, missing its 8.25 billion-euro maximum target for the sale. Spain’s bonds rose for the first time in four weeks before it sells debt on April 4. The ECB has lent more than 1 trillion euros to European financial institutions through its longer-term refinancing operations.