MOLTO BENE! Italian Borrowing Costs Are Tumbling After Great Bond Auctions

The Italian government sold 5 billion euros worth of debt at auctions that were met with healthy demand.

This morning’s offering included 4.5 billion euros worth of 2-year debt, which sold at a yield of 3.76%.  In December, 2-year debt sold for 4.85%.

European markets are up across the board.

Check out the move in the Italian 10-year yield.

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