Mario Monti, Italy’s premier-in-waiting, faced political resistance on forming a Cabinet as his market honeymoon turned sour, with Italian yields surging amid concern he’ll struggle to tame Europe’s sovereign-debt crisis.
As Monti engaged in the final day of talks on forming a government, the yield on Italy’s 10-year bond jumped to 7.06 percent at 1:10 p.m. Rome time, above the 7 percent threshold that prompted Greece, Ireland and Portugal to seek EU bailouts.
