Date: Monday 28 May 2012
Italy issued two-year bonds on Monday morning and saw borrowing costs rise to a level not seen since December 2011 as a result of fears that Greece may exit the Eurozone and that Spain's banking problems will not be easily patched.
The Italian Treasury issued a total of €3.5bn, the top end of its target.
One month earlier, ahead of the initial Greek elections, Italy auctioned January 2014-maturity bonds and fetched an average yield of 3.36%. Monday's two-year bonds had a financing cost of 4.037%.
Italy also issued €418m euros in 2016-maturing bonds and €333m in 2017-maturing bonds for yields of 4.39% and 4.6%, respectively.
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