Italy today continued to benefit from the good news coming out of Europe when it easily raised €6.5 billion in three bond auctions.
The country's borrowing costs have been falling since the European Central Bank unveiled its plan last week to buy unlimited amounts of short-term debt.
The proposal would lower borrowing costs in heavily indebted Italy and Spain. Countries must first ask for aid from the euro zone's bailout fund.
Italian Premier Mario Monti has said he does not think Italy needs the assistance.
The interest rate, or yield, on Italy's 10-year bonds today in the secondary market were 4.98%, compared to 6.36% in July, at the height of concerns about whether the country might be forced into asking for a bailout.
Italy's central bank said demand for today's auction was strong at 1.49 times with yields on the three-year notes down to 2.75% from the 4.65% registered at a similar bond auction in July. Italy also easily sold two tranches of 15-year bonds. A bond auction yesterday saw similarly lower rates and strong demand.
