MILAN: Italy sold the top planned amount of 4.5 billion euros ($5 billion) in bonds on Wednesday paying the cheapest yields since May thanks to favourable market momentum after it solved an impasse over its 2019, budget.
Italy sold 2.25 billion euros of a three-year bond maturing in October 2021 at 0.99 percent compared with 1.07 percent when it last auctioned it a month ago.
It also sold a seven-year bond maturing in November 2025 paying 2.26 versus 2.35 percent at the mid-January sale. Demand for the two bonds totalled nearly 1.6 times the amount sold.
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