Rome

Italian Treasury sells 5.88 million in five-, 10-year bonds

Bond auction draws slightly less attention than usual

Italian Treasury sells 5.88 million in five-, 10-year bonds

Rome, December 28 - The Italian Treasury sold 5.88 billion euros worth of its five- and 10-year bonds Friday, slightly less than its target of six billion. It was also forced to offer a slightly higher interest rate than at a similar auction in November. The yield rose to 3.26% from 3.23% on the five-year paper while yield on the 10-year bonds rose to 4.48% from 4.45% a month ago. As trading opened Friday morning, the spread between Italy's 10-year benchmark bond and its German counterpart was slightly higher than Thursday close of 313 points, at 326 basis points and an average yield of 4.56. The spread is a good barometer of financial markets' confidence in Italy's finances.

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