The Italian Treasury sold 12 billion euros of short-term bonds with different maturities, meeting the maximum target after borrowing cost fell sharply from an auction earlier.

Italy auctioned 8.5 billion euros of 1-year bills the averages yield on those bonds fell sharply to 1.405% from the previous of 2.23% seen in February. The nation also issued 3-month bills worth 3.5 billion euros on an average yield of 0.492%.