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Italian 3-year bonds fall below 2.0% Friday

By FXstreet.com,  January 11, 2013, 05:57:00 AM EDT

FXstreet.com (Barcelona) - Italian three-year borrowing costs dipped under 2.0% (1.85%) at an auction on Friday, falling to the lowest level in nearly two years amid strong demand for the debt of weaker euro zone members from investors hunting for higher yields.

Investors snapped up nearly 3.5€ billion of a three-year BTP bond maturing on December 2015, securing a return of 1.85%. The treasury paid 2.5% on the same bond at a similar sale just one month ago.

While the yield fell to the lowest level since March 2010, it looked attractive to buyers compared with a return just above zero on the equivalent German Bund. At the same time investors showed little concern for Italy's electoral campaign ahead of a crucial general election in late February.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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