Investing.com - Italy saw borrowing costs fall to the lowest level since March 2010 at an auction of six-month government bonds on Tuesday, amid growing optimism that the crisis in the euro zone has turned a corner.
Italy’s Treasury sold EUR8.5 billion worth of six-month government bonds at an average yield of 0.731% earlier in the day, the lowest since March 2010 and down from 0.949% at a similar auction last month.
Demand was steady, with bids exceeding supply 1.64 times versus a "bid-to-cover" ratio of 1.57 in December.
The yield on Italian 10-year bonds stood at 4.222% following the auction.
Meanwhile, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.12% to trade at 1.3440.
European stock markets remained mixed. Italy FTSE MIB Index was little changed, the EURO STOXX 50 dropped 0.15%, France’s CAC 40 declined 0.15%, Germany's DAX shed 0.1%, while London’s FTSE 100 added 0.2%.
Italy’s Treasury sold EUR8.5 billion worth of six-month government bonds at an average yield of 0.731% earlier in the day, the lowest since March 2010 and down from 0.949% at a similar auction last month.
Demand was steady, with bids exceeding supply 1.64 times versus a "bid-to-cover" ratio of 1.57 in December.
The yield on Italian 10-year bonds stood at 4.222% following the auction.
Meanwhile, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.12% to trade at 1.3440.
European stock markets remained mixed. Italy FTSE MIB Index was little changed, the EURO STOXX 50 dropped 0.15%, France’s CAC 40 declined 0.15%, Germany's DAX shed 0.1%, while London’s FTSE 100 added 0.2%.