Italy Sells 7.5 Billion Euros of Bills as Crisis Concerns Ease
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Italy sold 7.5 billion euros ($9.16 billion) of Treasury bills as borrowing costs dropped on optimism European leaders are taking steps toward resolving the region’s debt crisis.
The Rome-based Treasury sold the 361-day bills at 2.697 percent, down from 3.972 percent at the last sale of similar-maturity debt on June 13. Investors bid for 1.55 times the amount of bills offered, down from 1.73 times last month.