Italy met its target and sold 12 billion euros of bonds as borrowing costs almost halved. The Treasury sold 8.5 billion euros of one-year debt at an average yield of 2.735% down from 5.952% at the previous December 12 auction and matched the lowest since June 2011. Nevertheless, demand was a bit lower than the previous auction at 1.47 times compared to 1.92 times.

As for the 136-day bills, the Treasury sold 3.5 billion euros of debt at an average yield of 1.644%.