Bloomberg News

Italian 10-Year Bonds Stay Lower After Government Debt Auction

March 29, 2012

Italian 10-year government bonds stayed lower after the nation sold 8 billion euros of debt due 2017 and 2022.

The 10-year bond yield rose five basis points to 5.15 percent at 10:23 a.m. London time. Five-year notes also fell, with the yield climbing eight basis points to 4.30 percent.

Italy sold 3.25 billion euros of bonds due in September 2022 at a yield of 5.24 percent, the lowest at a 10-year auction since August. Investors bid for 1.65 times the amount of debt allotted. That compares with a so-called bid-to-cover of 1.40 at a previous auction of the securities on Feb. 28, which were sold at 5.5 percent.

The nation also sold bonds maturing in May 2017 and floating-rate securities due in June 2017.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net


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