Demand remains resilient in Italian debt auction.

Yields rose but not as much as feared in the second Italian bond auction since the country's inconclusive election, with the government achieving the top end of its sales-target range. The Treasury sold €4B of 10-year bonds at 4.83% vs 4.17% last month, and €2.5B of five-year notes at 3.59% vs 2.94%. In the secondary market, the 10-year yield was -1 bps at 4.90% at midday in Europe