Italian Bond Auction Sees Rates Continue to Decline
January 13, 2012
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Europe Update: Italian Bond Auction
Italy sold €4.75 billion of bonds maturing in November 2014 at a yield of 4.83%, which was down from the rate of 5.62% seen at the December auction.
Demand was down a bit as the bid-to-cover ratio was 1.22 compared to 1.4 last month.
Italy also sold €779 million of July 2014 bonds at a yield of 4.29% and €971 million of August 2018 bonds at a yield of 5.75%.
The initial reaction by the European markets has been positive.
iShares Italy - Last 12 Month
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