Tue, 27 Dec 2011 15:13:41 GMT
Italian bonds drop ahead of auction
Italian bonds declined pushing the borrowing costs on 10-year debt securities above 7% as country prepared to sell notes worth around 20 bn euros in the forthcoming bond auction. The yield for 10-year Italian bills hit 7.07% on Tuesday morning session.
Alessandro Giansanti, a strategist at ING Groep NV predicts the auction to push Italian borrowing costs even higher.