Italian two-year notes extended an advance after the nation sold 11 billion euros of 91- and 361- day bills, meeting its target for the auction.
The two-year note yield dropped nine basis points to 3.47 percent at 10:15 a.m. London time. Italy’s 10-year bonds also rose, pushing the yield down 15 basis points to 5.53 percent.
The Rome-based Treasury auctioned the 361-day bills at an average yield of 2.84 percent, up from 1.405 percent at the last sale of similar-maturity debt on March 13. Investors bid for 1.52 times the amount offered, up from 1.38 times last month. It sold the three-month bills at 1.249 percent, compared with 0.492 last month.
Italy will auction as much as 5 billion euros of bonds tomorrow.
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