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Yields edge lower as Italy sells 10-year debt; FTSE MIB down 1.6%

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Investing.com - aly saw borrowing costs edge lower at an auction of 10-year government bonds on Wednesday, but concerns over last month's election deadlock remained in focus.

Italy's Treasury sold a total of EUR6.91 billion of government bonds, within the targeted range of EUR5 -7 billion.

Italy auctioned EUR3 billion of 10-year government bonds at an average yield of 4.66%, down from 4.83% at a similar auction last month. The bid-to-cover ratio was 1.22 down from 1.66 at a previous auction.

Rome also sold EUR3.91 billion of a new line of five-year bonds at an average yield of 4.66%.

The euro was trading close to four-month lows against the dollar, with EUR/USD down 0.55% to 1.2788.

European stock markets remained lower. Italy FTSE MIB Index fell 1.5%, the EURO STOXX 50 declined 1.42%, France's CAC 40 lost 1.37%, Germany's DAX was 0.92% lower, while London's FTSE 100 slumped 0.58%.

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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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