13 Dec 2011

Better news for Italy at debt auction

8:57 am on 13 December 2011

There was slightly better news for Italy at a debt auction on Monday.

The BBC reports that 7 billion euros ($US9.3 billion) in 12 month bonds were sold at an interest rate of 5.92%, down from the 6.09% paid last month.

However, the BBC reports the yield on existing Italian 10-year bonds rose to 6.58% on Monday from a rate of 6.33% late on Friday.