Italy’s 10-year bond yield climbed to a euro-era record, driving the extra yield investors demand to hold the securities instead of benchmark German bunds to the most since the introduction of the currency in 1999.
The yield on 10-year Italian debt rose nine basis points to 6.46 percent at 7:42 a.m. London time. That pushed the difference in yield, or spread, with the German securities 12 basis points wider to 467 basis points.
Italy’s two-year note yield jumped 24 basis points to 5.70 percent. The 30-year bond yield rose above 7 percent for the first time since 1997.