Italy's borrowing costs surged at a sale of its one-year treasury bills on Wednesday after a EUR 100 billion Spanish bank rescue failed to calm concerns that Rome may be the next to seek a bailout.
The Italian Treasury raised the targeted EUR 6.5 billion from the sale of its 12-month bills.
The average yield on the 1-year paper rose to 3.972 percent from 2.34 percent in the previous sale on May 11.
The bid-to-cover ratio, which indicates demand, meanwhile fell to 1.73 from 1.79.
Italy is set to face a tougher challenge on Thursday, when it plans to sell as much as EUR 4.5 billion of its longer term debt, including 3-year bonds.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.