Italy raised the targeted amount at a debt auction on Wednesday, but borrowing costs continued to rise ahead of a crucial summit of EU leaders that starts tomorrow.
The Italian Treasury sold EUR 9 billion of 6-month bills, in line with the target set for the sale.
The yield on the 6-month paper rose to 2.957 percent from 2.104 percent in the previous auction on May 29. The bid-to-cover ratio, which reflects demand, edged up to 1.62 from 1.61.
Yesterday, the country paid more than what it did a month ago for a zero coupon bond amid rising concerns if it would be the sixth euro nation to seek a bailout after Ireland, Portugal, Greece, Spain and Cyprus.
by RTT Staff Writer
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