Market Pulse Archives
July 14, 2011, 5:42 a.m. EDT
Italy sells 3 bln euros of 5-, 15-year
By William L. Watts FRANKFURT (MarketWatch) -- Italy saw its borrowing costs rise but found strong demand in a closely-watched sale of 5- and 15-year government bonds on Thursday. News reports said Italy sold 1.25 billion euros ($1.77 billion) of five-year bonds, producing an average yield of 4.93%, around a full percentage point above its level in June but near the level seen in the secondary market, news reports said. The sale produced a bid-to-cover ratio of 1.93, exceeding the level seen in the previous auction. The Treasury also sold 1.716 billion euros of 15-year bonds, producing a yield of 5.9%.