Italian Bond Auction Goes Smoothly Ahead Of The Election

Gelato

Photo: Caitlin via flickr

Italy just sold 3.449 billion euro worth of 3-year bonds at a yield of 2.3 per cent, up from 1.85 per cent at a similar auction in January.  This is according to Bloomberg.The bid-to-cover ratio, a measure of demand, was 1.37, down from 1.45.

Despite the higher borrowing costs and lower demand, this wasn’t a terrible auction, especially considering all of the uncertainty that has surfaced ahead of Italy’s upcoming elections.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.