Domenica, 21 Ottobre 2018
ROME

Short-term borrowing costs ease at Treasury auction

English
© ANSA

(ANSA) - Rome, September 26 - Italy's short-term borrowing
costs eased a bit on Wednesday when an auction of six-month
bonds saw yields drop to 1.503%.
That marks the lowest rate for such bonds since March, and
was lower than the 1.58% paid by the Italian government on
six-month bonds at last month's auction.
Italy sold nine billion euros at Wednesday's auction and
Thursday, will offer another seven billion euros in longer-term
debt, including five- and 10-year bonds.
But investors are worried.
Italy was forced to pay as much as 5.22% Wednesday morning
on its 10-year paper and the spread with the German benchmark
shot up 20 basis points to reach 371 points as investors dealt
with fears over the country's economic future.
Investors became nervous after ratings agency Standard &
Poor's said Tuesday that it saw signs that the recession in
Spain and Italy is deepening.
The spread is a key barometer of market confidence in the
country's ability to weather the eurozone crisis.
It had eased in recent weeks after the European Central
Bank announced plans to buy the bonds of countries at the centre
of the eurozone crisis that are facing high borrowing costs.

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