In Europe, Italy sold 8 billion euros ($9.829 billion) of 12-month Treasury bills amid good demand, at an average yield of 2.767%, somewhat higher than the 2.697% rate it paid at the previous debt auction for similar maturity on July 12. The bid-to-cover ratio, an indicator of investor demand, calculated by dividing the amount of bids by the amount sold, came in at 1.69, up from 1.55 at the previous auction.
