Italy pays record yield to get bond away
ITALY paid yields of close to 8pc to sell-three year Government bonds today at levels seen by analysts as unsustainable.
The yield was 7.89pc for €7.5bn in bonds with a rate of 7pc considered bailout territory.
Just a month ago, the rate on similar bonds was 4.93pc with the new yield indicating how contagion is spreading through the bond markets.
The new November 2014 issue carries a 6pc interest rate – the highest level since 1997.