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Italy and Spain sell debt with no difficulty
Italy and Spain sold debt on Tuesday with little difficulty and at borrowing costs that rang few alarm bells. One or two of the banks which had bought Italy's inflation-linked bonds from the Treasury were, however, quick to sell the paper given a huge recent issue of retail paper that was also tied to price rises. This pushed Italian bonds yields higher in the secondary market. Italy also sold a two-year zero-coupon bond at an average 2.35 percent yield, down from 3.01 percent a month ago, thanks to sustained demand from banks rich in European Central Bank liquidity. It was the lowest auction yield for this kind of ... (full story)
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