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Italy set for long dated cost hike after short term yields rise at auction


Italy is set to take a hit on its funding costs at an auction of medium to long term bonds on Thursday, as the sovereign has failed to fully recover from a violent jump in yields two weeks ago. If yields rise as analysts expect, it will be the third day in a row that Italian funding costs have risen at auction, following a bill sale on Wednesday and an offering of zero coupon and inflation linked paper on Tuesday.

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