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URGENT ¥¥¥ Italian bond rates slightly lower in 10-year auction


Italian borrowing rates fell slightly in a 10-year debt auction on Wednesday, despite concerns over a political deadlock in the recession-hit country following inconclusive elections.

The government raised three billion euros (3.8 billion dollars) in bonds due to mature in 2023 at a rate of 4.66 percent, compared with 4.83 percent at the last similar auction on February 27.

Italy also raised 3.91 billion euros in five-year bonds at a slightly higher rate than in the previous comparable sale.