Italy's benchmark 10-year borrowing costs increased at an auction on Thursday, similar to the trend seen in yields of other Eurozone nations after the Federal Reserve hinted that it will scale back bond purchases in the coming months if the US economy improves.
The treasury sold the maximum targeted EUR 5.75 billion of bonds maturing in 2018 and 2023.
The May 2023 BTPs were sold at 4.14 percent yield compared to 3.94 percent at the previous issue in April. The demand exceeded the offer by 1.38 times, down from 1.42 last time.
The treasury also raised EUR 2.75 billion from the issue of June 2018 bonds at 3.01 percent, up from 2.84 percent at the last auction.
The European Commission on Wednesday freed Italy from its 'Excessive Deficit Procedure', that imposes corrective measure on nations that deemed to log high fiscal gap. The commission forecast the deficit to be 2.9 percent of GDP in 2013.
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