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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.