Rome

Rate on 3-year Italian bond falls below 2% at auction

Down to 1.92% from 2.29% at last sale in April

Rate on 3-year Italian bond falls below 2% at auction

Rome, May 13 - The rate on three-year Italian bonds fell below the 2% mark at a successful Treasury auction on Monday in another sign that the country's borrowing costs are easing after Premier Enrico Letta formed a left-right government last month to end a lengthy post-election deadlock. The Treasury sold all of the 3.5 billion euros' worth of three-year BTPs it put up for sale at an average interest rate of 1.92%, compared to 2.29% at the last equivalent auction in April. The rate also fell at an auction of 15-year BTPs. The Treasury sold 1.5 billion euros' worth of these bonds at an average rate of 4.07%, down from the 4.55% they went for in a February sale.

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