Italy sells bonds at lower yields as global economy gains momentum

The news on Thursday was positive.

In Europe, Italy saw yields decline at its latest bond auction on Thursday. It sold a total of 7.17 billion euros of debt, near the 7.5 billion-euro maximum target.

Even as the European financial crisis remains in check, the European Central Bank said in its monthly bulletin for April on Thursday that “signs of renewed growth momentum have begun to emerge in recent months” for the global economy. This is expected to help the euro area grow its exports and “lead to a gradual recovery in the second part of the year”.

Indeed, on Wednesday, the OECD had reported that its composite leading indicators “point to growth picking up in most major economies”, including the euro area.

And in the US, a report on Thursday provided yet another sign that its economy continues to grow. Jobless claims plunged by 42,000 to 346,000 in the week ended 6 April 6 from 388,000 the previous week.