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Political turmoil pushes Italy's 1-yr yields to 9-mth high
September 11, 2013 / 9:19 AM / 4 years ago

Political turmoil pushes Italy's 1-yr yields to 9-mth high

MILAN, Sept 11 (Reuters) - The threat of a political crisis pushed up Italy’s borrowing costs at auction on Wednesday as the world’s fourth-largest debtor paid 1.34 percent to sell one-year paper, the highest since December 2012.

Italy had paid 1.053 percent on the same maturity a month ago.

Italy sold the planned 8.5 billion euros in one-year bills. Demand totalled 1.4 times the amount on offer, down from 1.5 times at a similar auction in August.

It also sold 3.0 billion euros of one-off 101-day bills at an average 0.51 percent yield.

The Treasury returns to the market on Thursday offering up to 7.5 billion euros in longer-term bonds.

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