September 27, 2018 / 9:42 AM / 20 days ago

Italy borrowing costs fall slightly at bond auction

MILAN, Sept 27 (Reuters) - Italian borrowing costs on five and 10-year debt fell slightly on Thursday compared with the peaks posted at an end-August auction, showing investors were holding their breath in the face of conflicting signals regarding the country’s budget talks.

A cabinet meeting to sign off on the new targets for economic growth, the deficit and public debt for 2018-2021 is confirmed at 1600 GMT, the deputy prime minister said, dismissing reports that it could be delayed.

Rome sold 5.25 billion euros ($6.15 billion) over three bonds, meeting its maximum targeted amount. However the amount was smaller than usual.

The 10-yr bond fetched a gross 2.90 percent yield, down from the 3.25 percent Italy paid a month ago, which was the highest since March 2014.

$1 = 0.8535 euros Reporting by Francesca Landini; editing by Agnieszka Flak

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