Italy saw borrowing costs fall to the lowest level on record at an auction of 12-month government bonds on Wednesday, amid easing concerns over the health of the euro zone’s third-largest economy. Italy’s Treasury sold the full-targeted amount of EUR7 billion worth of 12-month government bonds at an average yield of 0.592%, an all-time low and down from 0.676% at a similar auction last month. The yield on Italian 10-year bonds stood at 3.402% following the auction. The euro was little changed against the U.S. dollar following the auction, with EUR/USD easing up 0.01% to trade at 1.3861. Meanwhile, European stock markets remained sharply lower. Italy FTSE MIB Index shed 0.3%, the EURO STOXX 50 dropped 0.95%, France’s CAC 40 lost 1.2%, Germany’s DAX tumbled 1.15%, while London’s FTSE 100 slumped 0.9%.
Posted on: Wed, 12 Mar 2014 15:07:47 +0000
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