Italy 3-yr debt costs rise sharply at auction
MILAN, April 12
MILAN, April 12 (Reuters) - Italian three-year borrowing costs rose more than a full percentage point at an auction on Thursday, boosted by fresh concerns about weaker euro zone states, and Italy slightly missed its maximum planned amount of 3 billion euros for this bond.
Italy paid 3.89 percent to sell its three-year March 2015 bond, up from 2.76 percent at an auction a month ago. The 2.88 billion euro sale was covered 1.44 times, down from a bid-to-cover of 1.56 at last month's bigger sale.
This was the highest three-year yield since mid-January.
The Treasury is also selling up to 2 billion euros of three-off-the run issues due in 2015, 2020, 2023, but the results were not yet available.