Italy Is 2 Percentage Points From Disaster, Evolution Says
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Italian bond yields are less than 2 percentage points away from disaster as its 10-year notes tumble, according to Gary Jenkins, head of fixed-income at Evolution Securities Ltd.
Yields on Italy’s benchmark 10-year bonds closed above 5 percent for the first time since November 2008 on July 6 and were at 5.55 percent, a nine-year high, at 1:45 p.m. in London today. Greece, Ireland and Portugal all had to ask for international assistance after their 10-year yields rose past 7 percent.