Italy's 6-mth debt costs fall to lowest since January
MILAN, March 26
MILAN, March 26 (Reuters) - Italy's six-month debt costs eased at a sale on Tuesday, falling to the lowest level since January as large redemptions offset the impact of market worries about the consequences of the bailout of Cyprus on peripheral euro zone debt.
The treasury sold 8.5 billion euros of bills maturing on Sept. 30, 2013 at a rate of 0.83 percent, down from 1.24 percent at a sale on Feb. 26, one day after Italy's inconclusive national election.
After Tuesday's auction the treasury has sold around 16.25 billion euros of bills in March compared with 19 billion euros of short-dated debt coming due this month.
The market's faith that the European Central Bank will buy the government bonds of states that ask for help also supported demand for Italian debt.
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