Borrowing Costs Fall At Italy's Latest Bond Auction

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Italy just sold 2.9 billion euros of 10 year bonds at a yield of 4.45 per cent, which was down from 4.92 per cent at a similar auction last month, reports Bloomberg.They also sold 3 billion euros worth of 5 year bonds at 3.23 per cent, which was down from a previous rate of 3.8 per cent.

However, the bid to cover ratio (a measure of demand) was down for both auctions.

Markets continue to rally in Europe.

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