Monte Paschi Bonds Drop as Italy-Europe Talks Halt in Deadlock
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Banca Monte dei Paschi di Siena SpA’s subordinated bonds fell to a five-month low amid reports that Italy and the European Commission are in deadlock over how to boost the country’s broken banking system.
Monte Paschi’s 379 million ($420 million) euros of notes due September 2020 fell 13 cents on the euro to 64 cents on Thursday, the lowest since Jan. 21, according to data compiled by Bloomberg. They were quoted above 90 cents last week.