Rome, February 13 - The Italian bond spread eased after the Italian treasury's held some successful bond auction on Wednesday. The spread between the 10-year Italian bond and the German benchmark - considered an important gauge of the cost of Italian debt - slid six basis points during the day to 278. The yield on Italian 10-year-bonds on the secondary market was down at 4.45%. The Italian treasury sold 3.449 billion euros worth of three-year bonds on Wednesday, at an interest rate of 2.3%, up from 1.85% last January Longer term bond offerings were more encouraging however. Italian 15-year bonds sold at an average yield of 4.55%, down from a 4.75% rate at last issue in December. The Italian treasury also sold 30-year bonds for the first time since May 2011. The treasury auctioned off 888 million euros of 30-year paper. The average yield was 5.07%, down from 5.43% in May 2011. The long term bonds were oversubscribed by a factor of 1.97.
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di Giovanni Pastore