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Yields edge higher as Italy sells 3-year debt; FTSE MIB down 1%

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Investing.com - aly saw borrowing costs rise to the highest level since December at an auction of three-year government bonds on Wednesday, as concerns over last month's election deadlock remained in focus.

Italy's Treasury sold EUR3.323 billion worth of three-year government bonds at an average yield of 2.48% earlier in the day, the highest since December and up from 2.30% at a similar auction last month.

Rome also sold EUR2 billion worth of 15-year debt at an average yield of 4.90%.

The yield on Italian 10-year bonds stood at 4.676% following the auction.

Meanwhile, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.12% to trade at 1.3018.

European stock markets remained lower. Italy FTSE MIB Index fell 1%, the EURO STOXX 50 declined 0.5%, France's CAC 40 dipped 0.4%, Germany's DAX edged 0.2% lower, while London's FTSE 100 slumped 0.8%.

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


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

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