Italy gets Eu9bn book despite general malaise in periphery
The Republic of Italy’s new 15 year surpassed expectations as the book raced to in excess of Eu9bn. The result is even more impressive given that gains in peripheral sovereigns on the back of quite successful Irish, Greek and Spanish auctions were reversed this morning as Portugal failed to raise as much money as hoped in its two-part sale despite robust demand. Read EuroWeek on Friday for market views on Italy and the other SSA transactions launched this week
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