Italian borrowing costs rose at an auction on Wednesday as market bets on rate cuts from the European Central Bank (ECB) waned.

The Treasury sold the maximum planned amount of 9 billion euros ($10.4 billion) in four bonds.

It allotted 2 billion euros of a five-year BTP bond due on October 1, 2030, fetching a 2.80% gross yield, its highest level since February, compared with 2.74% at the end of June.

It also placed 3.5 billion euros of a ten-year BTP bond maturing October 1, 2035, with a 3.52% yield, a two-month high, from 3.48% in June.

In addition, the Treasury sold 2 billion euros of a floating-rate CCTeu bond due in April 2034 with a 3.13% yield compared with 3.16%.

It also sold 1.5 billion euros in a ten-year, off-the-run BTP bond maturing in April 2030.

($1 = 0.8646 euros)