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Italy meets full debt sale goal, costs drop
26-10-2012 10:54
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Italy managed to fill its debt auction goal today while its borrowing costs also dropped from the previous issue.
Specifically, Rome sold €4bn in debt compared to the projected range of €2.5bn to €4bn.
The yield on the €3bn in two-year bonds dropped from the prior auction's 2.53% to 2.397%, its cheapest level since last March. The bid-to-cover ratio settled at 1.65.
Additionally, the Italian Treasury sold €1bn in two-year bonds indexed for inflation.
JM
Specifically, Rome sold €4bn in debt compared to the projected range of €2.5bn to €4bn.
The yield on the €3bn in two-year bonds dropped from the prior auction's 2.53% to 2.397%, its cheapest level since last March. The bid-to-cover ratio settled at 1.65.
Additionally, the Italian Treasury sold €1bn in two-year bonds indexed for inflation.
JM
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