Italy's 1-yr borrowing costs fall to euro-era low
MILAN May 10 (Reuters) - Italy's one-year funding costs tumbled on Friday to their lowest level since the introduction of the euro as bets of further monetary easing in the euro zone continued to fuel appetite for assets offering higher returns than German debt.
At a regular auction the treasury sold 7 billion euros ($9.2 billion) of bills maturing May 2014 at 0.70 percent, down from the 0.92 percent Rome paid at a similar sale one month ago.
Italy also placed 3 billion euros of bills maturing on Dec. 13, 2013 at an interest rate of 0.39 percent.
These short-term assets, dubbed 'flexible bills', are issued by the treasury from time to time to cover seasonal liquidity needs.
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