Marcus Ashworth, Columnist

Italy Needed a Bond Victory. It Got a Whimper

Wednesday’s auction was at best a mixed bag.

May 30, 2018 at 11:13 AM UTC

Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. Previously, he was chief markets strategist for Haitong Securities in London.

A long way to go for salvation. — A long way to go for salvation.
Photographer: Alessia Pierdomenico/Bloomberg

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This wasn’t good enough.

Wednesday’s Italian government bond auction needed to go well to settle some seriously frayed nerves. And, with the highest demand ratio for the 10-year slug this year, it certainly wasn’t a disaster.