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Italian 10-Year Bonds Stay Lower as Data Shows Economy Contracts

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Aug. 7 (Bloomberg) -- Italian 10-year bonds stayed lower after a report showed Italy’s economy contracted for a fourth straight quarter in the three months through June.

The 10-year yield rose four basis points to 6.04 percent at 10:01 a.m. London time. The two-year rate advanced 30 basis points to 3.34 percent.

Gross domestic product declined 0.7 percent in the second quarter, less than the 0.8 percent decline forecast by a Bloomberg News survey.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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