Italian government bonds fell for a second day after Moody’s Investors Service cut the nation’s credit rating by two steps and reiterated its negative outlook.
Ten-year Italian yields climbed above 6 per cent as the nation prepared to auction as much as €5.25 billion of securities due between 2015 and 2023 today. German two- and five-year note yields fell to record lows as investors sought the safest assets. Italy is Europe’s...
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