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Italy's 50 Year Bond Issue Set At €5 Billion: Nearly 4x Oversubscribed

The global search for yield continued this morning, when as reported yesterday, Italy was set to price its first ever super-long bond in the form of 50 year paper. According to Bloomberg, the issue size will be set at €5 billion, but what is more impressive is that with €18.5 billion in orders, it will be nearly 4x oversubscribed. According to the WSJ, the bonds are expected to price at a yield of around 2.
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