MW: Italian yields rise in 5- and 10-year auctions
By Sara Sjolin
LONDON (MarketWatch) -- The Italian government on Wednesday sold a total of 5.732 billion euros of medium and long term Treasury bonds, at higher borrowing costs than at previous auctions with same maturities, Dow Jones Newswires reported. The Italian Treasury sold 3.391 billion euros in 5-year bonds, just below its target range, at a yield of 5.66%. The government also sold 2.341 billion euros in 10-year bonds at a yield of 6.03%, higher than the 5.84% produced at the previous auction with same maturity. For the 10-year bond, the government had aimed at selling between 2 billion euros and 2.75 billion euros, according to DJ. In the secondary market, yields on 10-year Italian government bonds surged 21.6 basis points to 6.111%, according to electronic trading platform Tradeweb.
