italian debt market feb 27 2012

italian debt market feb 27 2012 ; Italy's six-month borrowing costs sank towards 1 percent at auction on Monday as it sold 12.25 billion euros in short-term bills, meeting solid demand ahead of a new offer of three-year funds by the European Central Bank this week.

Italy paid 1.2 percent to sell 8.75 billion euros of six-month BOT bills, down from 1.97 percent a month ago and the lowest yield for this type of bills since September 2010. The sale was covered 1.4 times, in line with a previous sale at the end of January.

Italy also sold bills maturing in December 2012 at an average 1.29 percent rate. Demand for these bills was more than twice the 3.5 billion euros sold.

Cheap three-year funds injected by the ECB have fuelled demand for short-term government paper that lenders can use to borrow from the central bank. A new offer is scheduled on Wednesday after the first such tender held in late December.

The Italian Treasury faces a harder test on Tuesday when it returns to the market with a bond auction for up to 6.25 billion euros, including a new 10-year issue. For the latest updates on the stock market, visit Stock Market Today

Italian new 10-year issue 2012, Italian debt maturing in December 2012, Italian Govt. Bond february 2012 For the latest updates PRESS CTR + D or visit Stock Market news Today

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