Rome

Interest rates fall on Italian bonds at important auction

Average rate on 10-year BTPs drops to 5.24% from 5.82%

Interest rates fall on Italian bonds at important auction

(ANSA) - Rome, September 27 - The interest rates on Italian bonds fell sharply at an important auction on Thursday, when the Treasury sold 5.65 billion euros worth of State paper, which was short of the maximum target of six billion. The average rate paid on 10-year bonds dropped to 5.24% from 5.82% at an equivalent auction in August. The average rate given for five-year BTPs slid to 4.09% from 4.73% last time. The auction was hotly awaited after Italian bonds came under pressure on the secondary market on Wednesday, when the spread between 10-year BTPs and the German benchmark jumped up by 24 basis points amid speculation Spain is close to requesting EU rescue funds.

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