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Italy pays a shade more for December debt

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Italy pays a shade more for December debt

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The final auction of the year of long-term Italian debt went off smoothly today, three billion euros worth at 4.48%, only slightly up from a similar sale a year ago.

Rome was able to find buyers in a thin market, also placing nearly three billion euros of short-term five-year debt at the same three-tenths of a point premium to a year ago. The only marginally higher borrowing costs are encouraging news heading into the new year.