ROME (AP) -- Italy's borrowing costs have risen for the second day in a row in a pair of bond auctions that also failed to raise as much money as expected.
The Italian Treasury said Friday it raised EUR5.88 billion ($7.8 billion) in its auction of 10- and 5-year bonds, shy of the EUR6 billion target. The interest rates on the 10-year debt rose from 4.45 percent last month to 4.48 percent while the rate for five-year bonds was 3.26 percent, up from the 3.23 percent.
Italy also saw its borrowing costs inch up in Thursday's auction of six-month paper. The country had been enjoying several months of falling interest rates thanks to reforms introduced by Premier Mario Monti and the European Central Bank's offer to buy up bonds.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
She can sing, but can she act? Jewel takes on a famous role.
A fallen police officer's daughter gets a swarm of support. (Photos)
Snooki awkwardly meets "Jersey Shore" nemesis Chris Christie.
Star-studded event raises millions for AIDS research. (Photos)