Italian yields up before supply, Spain yields ease

Italian government bond yields rose on Tuesday as the risk of sovereign rating downgrades across the euro zone kept markets nervous before Wednesday's test of appetite for its 5-year debt.

Spanish yields fell across maturities by late European trading after the country drew strong demand at its sale of 12- and 18-month Treasury bills although one analyst said it could not be seen as a precursor to Spain's longer-term debt sales on Thursday given that it was "balance sheet paper".

Italian 10-year yields rose as far as 6.78 percent and could soon rise back to 7 percent, according to analysts, although this would also depend on the scale of European Central Bank bond-purchasing. Five-year debt traded around 6.86 percent.

Read Full Article from Reuters

- Posted: 2011-12-13 12:44:35

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