Investing.com - Italy saw borrowing costs fall sharply at an auction of five- and ten-year government bonds Monday, after a new government was sworn in, ending months of political deadlock after inconclusive elections in February.
Italy’s Treasury sold EUR3 billion worth of ten-year debt at an average yield of 3.94%, the lowest since October 2010 and down from 4.66% at a similar auction last month.
Rome also sold EUR3 billion of five-year government bonds at an average yield of 2.84%, also the lowest since October 2010 and down from 3.65% at a similar auction last month.
The yield on Italian 10-year bonds stood at 3.955% following the auction.
Meanwhile, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.48% to trade at 1.3093.
European stock markets remained higher. Italy FTSE MIB Index rallied 1.6%, the EURO STOXX 50 gained 0.5%, France’s CAC 40 advanced 0.7%, Germany's DAX tacked on 0.4%, while London’s FTSE 100 eased up 0.1%.
Italy’s Treasury sold EUR3 billion worth of ten-year debt at an average yield of 3.94%, the lowest since October 2010 and down from 4.66% at a similar auction last month.
Rome also sold EUR3 billion of five-year government bonds at an average yield of 2.84%, also the lowest since October 2010 and down from 3.65% at a similar auction last month.
The yield on Italian 10-year bonds stood at 3.955% following the auction.
Meanwhile, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.48% to trade at 1.3093.
European stock markets remained higher. Italy FTSE MIB Index rallied 1.6%, the EURO STOXX 50 gained 0.5%, France’s CAC 40 advanced 0.7%, Germany's DAX tacked on 0.4%, while London’s FTSE 100 eased up 0.1%.