Italy Sells 11 Billion Euros of Bills as Rates Rise at Auction
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Italian borrowing costs rose at an auction of 11 billion euros ($14 billion) of Treasury bills as investors’ optimism over the bond buying plan announced by the European Central Bank began to fade amid Spain’s reluctance to request external aid.
The Treasury in Rome sold 8 billion euros of 364-day bills at 1.941 percent, up from 1.692 percent at the last auction on Sept. 12. Italy also sold 3 billion euros of 91-day bills to yield 0.765 percent, up from 0.7 percent last month.