Italy Seeks $10 Billion as Contagion Slams Demand: Euro Credit
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Italy is auctioning as much as 7 billion euros ($10 billion) of bonds one day after borrowing costs surged at a bill auction, as Greece’s slide toward default roils global markets.
The treasury is selling 4 billion euros of a new benchmark five-year bond today, after 10-year yields climbed to a five-week high of 5.70 percent. Investors charged Italy 4.153 percent yesterday in a one-year bill offering, up from 2.959 percent a month ago.