Italy Notes Rise a Third Day as Borrowing Costs Fall at Auction
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Italy’s two-year notes rose for a third day as borrowing costs declined at a debt sale and concern that Prime Minister Mario Monti’s resignation will cause a political vacuum eased.
Ten-year bonds held two days of gains after former Prime Minister Silvio Berlusconi said he may withdraw his bid to be prime minister, throwing into doubt a comeback bid that threatened to undermine budget-cutting measures. Greek bonds advanced for a sixth day after euro-area finance ministers approved rescue payments that will keep the country solvent. German bunds declined for a fourth day as European officials met in Brussels.