Belgian short-term debt yields rise at auction

BRUSSELS: Yields on Belgian short-term debt rose at an auction on Tuesday, according to the country's debt agency.

Three-month treasury bills yielded 1.198 percent, up from the 0.947 percent markets demanded in April. Yields for six-month paper increased to 1.341 percent from 1.147 percent.

Belgium raised 2.335 billion euros ($3.46 billion) at the auction, towards the upper end of the target range of 2.0-2.5 billion euros the debt agency set on Friday.

Short-dated yields have increased during 2011 as markets have begun factoring in higher interest rates from the European Central Bank. The ECB increased rates by 25 basis points in April and inflation and other euro zone data point to further hikes ahead.