ECB Lending Prompts Demand for Italian, Spanish Bonds
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The name is bonds. Italian bonds.
Yields on Italian bonds rose for the first time in five days, bolstered by recent lending by the European Central Bank. Financial institutions in Europe were lent €489 billion from the ECB, prompting an increase in demand for Italian as well as Spanish notes.
Italian 10-year bond yields fell 25 basis points to 6.75 percent, while rates on 10-year Spanish debt dropped 24 basis points to 5.09 percent.
Italy's Treasury managed to sell €9 billion of 6-month bills at 3.251 percent, down from 6.504 percent in the same period last month. Zero-coupon notes went for 4.85 percent, down sharply from 7.81 percent last month.
The ECB received the most overnight deposits in its history, up from €412 billion during the prior session to €452 billion.
U.S. markets are indicated higher Wednesday.
Yields on Italian bonds rose for the first time in five days, bolstered by recent lending by the European Central Bank. Financial institutions in Europe were lent €489 billion from the ECB, prompting an increase in demand for Italian as well as Spanish notes.
Italian 10-year bond yields fell 25 basis points to 6.75 percent, while rates on 10-year Spanish debt dropped 24 basis points to 5.09 percent.
Italy's Treasury managed to sell €9 billion of 6-month bills at 3.251 percent, down from 6.504 percent in the same period last month. Zero-coupon notes went for 4.85 percent, down sharply from 7.81 percent last month.
The ECB received the most overnight deposits in its history, up from €412 billion during the prior session to €452 billion.
U.S. markets are indicated higher Wednesday.
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