Italy pays record yield at bond sale
Milan - Italy paid a record 6.29% yield to sell five-year bonds on Monday in the first auction held after former European Union commissioner Mario Monti was asked to head an emergency government charged with tackling the debt crisis.
Italy, which last week saw bond yields soar past the 7% level that has triggered international bailouts of Ireland and Portugal, raised the maximum targeted amount of €3bn at the sale.
Despite an easing in market pressures on Italian government bonds, the auction yield marked a new euro lifetime record - up from 5.32% at a month-ago auction.
On the secondary market, the yield on the September 2016 BTP stood just above 6.40% on Monday.
At the worst of last week's market turmoil it had peaked at about 7.8%.