MILAN: Italy sold 7 billion euros ($7.9 billion) in bonds on Monday, paying higher yields compared to a month ago on the three-year notes as rising concerns Britons may vote to leave the European Union pushed investors to favour safer assets.
Italy raised the top planned amount over four notes. Bonds by weaker euro zone issuers were under pressure on Monday after a poll late on Friday showed a significant 10 point lead for the "Leave" camp in Britain.
The Rome-based Treasury sold a three-year April 2019 bond with a yield of 0.08 percent up from 0.04 percent a month ago.
The sale was covered 1.8 times, up from nearly 1.6 times at the previous auction in mid-May.
However, the yield on a March 2023 seven-year bond fell to 0.83 percent from 0.87 percent in May.
Bids totalled 1.3 times the 3 billion euros sold compared with a bid-to-cover of nearly 1.4 times at the auction in mid-May.
A 30-year bond due in March 2047 fetched a 2.49 percent yield, stable from April, when it was last issued. Monday's sale was covered 1.6 times.
The Treasury also sold an off-the-run 30-year bond maturing in September 2044 at a 2.44 percent yield drawing bids equivalent to 2.1 times the amount sold.
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