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Italy's 10-Year Borrowing Costs Rise Slightly at Auction

Friday, 28 Dec 2012 | 5:42 AM ET
Ian Cumming | Axiom Photographic Agency | Getty Images

Italy's borrowing costs rose slightly at the first auction for long-term debt to be settled in 2013 as thin trading and worries over the U.S. budget weighed on peripheral bonds.

The Treasury sold 3 billion euros ($3.9 billion) of its 10-year bond paying a yield of 4.48 percent, up from 4.45 percent at a similar sale one month ago.

Rome also placed 2.87 billion euros of its five-year bond paying 3.26 percent, up from 3.23 percent at end-November sale.

Markets are starting to focus on an uncertain Italian election campaign as the country approaches elections scheduled on 24-25 February.

Italy had planned to sale up to 6 billion euros of both issues after having placed 11.75 billion euros of short-dated debt on Thursday.

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