Rome

Rates shoot down at auction of three-year Italian bonds

Yield falls from 4.65% to 2.75%

Rates shoot down at auction of three-year Italian bonds

(ANSA) - Rome, September 13 - The interest rate on three-year Italian bonds shot down at an auction on Thursday in which the Treasury sold four billion euros worth of state paper. The yield dropped to 2.75% compared to 4.65% at a similar auction in July. On Wednesday the Treasury said the yield of three-month state paper fell from 0.865% to 0.700% and the yield on 12-month paper sank to 1.692% from 2.767% at the last such auction. The pressure has eased on Italian bonds following last week's European Central Bank promise of unlimited bond-buying for troubled countries like Spain and Italy.

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