Italy Sells Debt at Record Low as Investors Shrug Off Tensions
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Italian borrowing costs dropped to a record low at a sale of one-year bills today as investors shrugged off mounting tensions within Italy’s governing coalition.
The Rome-based Treasury sold 8 billion euros ($10.9 billion) of 364-day bills maturing in February 2015 at a record low 0.676 percent, down from 0.735 percent at the previous auction of similar-maturity debt Jan. 10. Investors bid 1.63 times the amount sold, compared with 1.45 last month. Italy redeems about 9.7 billion euros of bills Feb. 14.