Italy paid a record 6.29 percent yield to sell five-year bonds on Monday in the first auction held after former European Commissioner Mario Monti was asked to head an emergency government charged with tackling the debt crisis.

Italy, which last week saw bond yields soar past the 7 percent level that has triggered international bailouts of Ireland and Portugal, raised the maximum targeted amount of 3 billion euros at the sale.

Despite an easing in market pressures on Italian government bonds, the auction yield marked a new euro lifetime record -- up from 5.32 percent at a month-ago auction.

On the secondary market the yield on the September 2016 BTP stood just above 6.40 percent on Monday.

At the worst of last week's market turmoil it had peaked at around 7.8 percent.

(Reporting by Valentina Za)