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Serbia sells below-target 23 mln euro in 2-yr T-notes, yield falls

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Serbia sold on Thursday 23 million euro ($25.5 million) in two-year euro-denomination Treasury notes, equal to 46.01% of its offer amid insufficient demand, the finance ministry’s treasury department said.

The yield on the notes fell to 1.09% from 1.18% at the previous similar auction held on June 21, the department said in a statement.

Demand for the papers, which bear an annual coupon of 1% and mature on August 1, 2018, plunged to 23 million euro from 39.8 million euro last month.

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