A 10-year note maturing in August 2029 was sold at a gross 1.56pc yield, sharply down from 2.09pc at last month's sale and the lowest level since September 2016.

A five-year BTP bond maturing in July 2024 was sold at a gross 0.80pc yield compared with 1.34pc at the previous auction at at the end June and the lowest level since April last year.

The Treasury also sold two floating-rate CCTeu certificates due, respectively, in January 2025 and April 2025. The January 2025 bond fetched a gross yield of 1.06pc - compared with 1.60pc last month - while the April 2025 was sold at 1.11pc.

The Treasury raised the top planned amount of 7.25 billion euros ($8.08 billion) at auction.