Borrowing Costs in Italy Drop to Two Year Lows

“Italy sold three-year bonds at the lowest rate in more than two years and the Treasury took advantage of growing demand for the country’s debt to auction securities with a maturity longer than 15 years.

The Rome-based Treasury sold 3.5 billion euros ($4.5 billion) of its benchmark three-year bond today to yield 2.64 percent, less than the 2.86 percent at the last auction of the same securities on Oct. 11. The Treasury also auctioned 1.5 billion euros of debt due in 2023 and one in 2029, the first sale of a security with a maturity of more than 15 years since May 2011.”

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