Italy sold a total of Eur 5.732 bln 5 and 10 yr BTP’s out of a targeted Eur 4.5-6.25 bln…
Sold Eur 3.391 bln of benchmark 4.75% June 2017 BTP, yield 5.66 % (from 4.86%), cover 1.352 (from 1.34)
Sold Eur 2.341 bln of benchmark 5.5% Sept 2022 BTP, yield 6.03 % (from 5.84%), cover 1.395 (from 1.48)
Worse yields and failed to take up the full target…
EUR/USD’s down around 1.2435 but damage really already done by poor EU economic/business sentiment data and rising Spanish and Italian yields
