Italy sells €3bn worth of bonds at highest yield since 1997
Italy’s problems are manageable says German Finance Minister Wolfgang Schaeuble as markets react positively to Mario Monti's appointment as Italian prime minister.
Italy sold €3 billion of five-year bonds, the maximum target, at the highest yield in more than 14 years as Mario Monti seeks to form a new government to restore investor confidence in public finances.
The Rome-based Treasury sold the bonds to yield 6.29 per cent, the highest since June 1997 and up from 5.32 per cent at the last auction on October 13th, according to Bloomberg. Demand was 1.47 times the amount on offer, compared...
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