Italian Yields On 3-year Bonds Skyrocket
Summary for: Italian Yields On 3-year Bonds Skyrocket
Business Article On Italian Yields On 3year Bonds Skyrocket Regarding Italy, Percent, Year, Billion, Bailout, Weekend, Banks, Heightened, Pressure, Decision, Denominationsspain, Subscribeditaly, Fully, Offering Speed, Reforms, Prime, French
business article on Italian yields on 3-year bonds skyrocket regarding Italy, Percent, Year, Billion, Bailout, Weekend, Banks, Heightened, Pressure, Decision, Denominationsspain, Subscribeditaly, Fully, Offering, , Speed, Reforms, Prime, French
Italy's borrowing costs on its three-year bonds skyrocketed to their highest level since December, as concerns about Spain and the state of Europe's economy continued to pummel Italy's finances.
In a bond auction Thursday, Italy paid 5.3 percent interest rates, up from 3.91 percent last month — to sell €3 billion ($3.76 billion) in three-year paper. The sale was fully subscribed.
Italy also was offering up to €1.5 billion in two other denominations.
Spain's decision over the weekend to seek a bailout for its banks has heightened pressure on Italy to speed its reforms and hold steady on austerity. Monti meets later Thursday with French Prime Minister Francois Hollande.