Tags: Italy | Yields | Auction | bond

Italy 6-Month Yields Highest Since December in Auction

Wednesday, 27 Jun 2012 09:37 AM

Italy's six-month borrowing costs rose to 2.957 percent at auction on Wednesday, their highest since December, piling pressure on the government as it pushes for concrete steps to ease market tensions at a European Union summit later this week.

A month ago Italy paid 2.1 percent to sell six-month paper. Wednesday's 9-billion-euro ($11 billion) bill sale comes ahead of a more challenging offer of five- and 10-year debt on Thursday, for up to 5.5 billion euros ($6.9 billion).

The bill sale was covered 1.6 times, in line with a month ago.

On Tuesday Spain paid 3.24 percent to sell six-month bills. Italy saw its two-year borrowing costs rise to 4.71 percent, also a six-month high, at a sale of zero-coupon paper on Tuesday.

Prime Minister Mario Monti promised on Tuesday to press for joint action by EU countries to help ease pressure on Italian bonds, risking a showdown with Germany which has refused to share the burden of other countries' debt.

© 2017 Thomson/Reuters. All rights reserved.

   
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2012-37-27
Wednesday, 27 Jun 2012 09:37 AM
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