Italian Borrowing Rates Are Plunging After A Healthy Bond Auction

The Italian yields are falling following this morning’s auction of 12-month bills.  The Italian government sold $10.78 billion euros worth of the bills are at a 2.735% rate, which is way down from the 6% level we saw at an auction just a month ago.

Here’s a chart of Italy’s falling 10-year yield.

chart
Italian 10-year yield

[credit provider=”Bloomberg” url=”http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND#chart”]