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Italy Yields Surge at Sale, Adding Pressure for Solution

Italy’s borrowing costs surged at its first bond auction since Spain’s 100 billion-euro ($126 billion) bank rescue request, putting more pressure on European leaders to step up their response to the debt crisis.

The Treasury sold 4.5 billion euros of debt, including 3 billion euros of its 3-year benchmark bond to yield 5.3 percent. That was the highest yield since December and an increase of almost 1.4 percentage points from the last sale a month ago.