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Yields fall to lowest since January 2010 as Italy sells 12-month debt

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Investing.com - aly saw borrowing costs fall to the lowest level since January 2010 at an auction of 12-month government bonds on Thursday, as investors looked ahead to the European Central Bank's policy meeting later in the day.

Italy's Treasury sold the full-targeted amount of EUR8.5 billion worth of 12-month government bonds at an average yield of 0.864%, the lowest since January 2010 and down from 1.456% at a similar auction last month.

Demand was steady, with bids exceeding supply 1.79 times versus a "bid-to-cover" ratio of 1.94 in November.

The yield on Italian 10-year bonds stood at 4.19% following the auction.

Meanwhile, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.22% to trade at 1.3095.

European stock markets were also higher. Italy FTSE MIB Index rose 0.75%, the EURO STOXX 50 eased up 0.3%, France's CAC 40 was little changed, Germany's DAX advanced 0.3%, while London's FTSE 100 tacked on 0.2%.

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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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