Post by Forever Sunshine on Nov 6, 2011 22:48:28 GMT -5
Confusion about Greece's referendum plans and its role in the eurozone sparked turmoil in the Italian bond market Thursday.
The yield on the 10-year Italian bond rose to 6.4% overnight, the highest level since Italy joined the euro.
Yields eased a bit on hopes that Greece will scrap its plan for a referendum. The European Central Bank's decision to cut interest rates for the first time in two years also lifted market sentiment.
But yields still remain above 6%.
"Whether at 5.5% or 6.5%, these are scary looking yields," said Andrew Milligan, head of global strategy at Standard Life Investments in Edinburgh, Scotland.
money.cnn.com/2011/11/03/markets/bondcenter/italian_bond_yields/index.htm?source=cnn_bin
The yield on the 10-year Italian bond rose to 6.4% overnight, the highest level since Italy joined the euro.
Yields eased a bit on hopes that Greece will scrap its plan for a referendum. The European Central Bank's decision to cut interest rates for the first time in two years also lifted market sentiment.
But yields still remain above 6%.
"Whether at 5.5% or 6.5%, these are scary looking yields," said Andrew Milligan, head of global strategy at Standard Life Investments in Edinburgh, Scotland.
money.cnn.com/2011/11/03/markets/bondcenter/italian_bond_yields/index.htm?source=cnn_bin
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Crap, the Name Escapes Me 
