Rome

Rates rise at Italian bond auctions

10-year BTP climbs to 4.55%, 5-year up to 3.47%

Rates rise at Italian bond auctions

Rome, June 27 - Interest rates rose on Italian bonds at two Treasury auctions on Thursday. The Treasury sold 2.5 billion euros' worth of 10-year BTP bonds at an average interest rate of 4.55%, up from 4.14% at the last auction in May. It also sold all 2.5 billion euros' worth of the five-year BTPs that it put on the market, at an average rate of 3.47%, compared to 3.01% at the May sale. Although the rates were up, the spread between the 10-year Italian bond and the German benchmark fell after the auctions, dropping to 283 points, after opening the day at 287 points, with a yield on the secondary market of 4.56%. The spread is an important measure of Italy's borrowing costs and investor confidence in the country.

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