Wednesday, December 14, 2011

Italy's 5-Year Bond Yields Hit New Euro Era Record High

Today Italy paid 6.47% to sell five year bonds, a new euro era record

Germany, o the other hand, sold  4 billion euros of two-year bonds at an ultra-low average yield of just 0.29% as investors flock to safety. Germany's 0.29% yield was down from 0.39% in November.

Interestingly, even Sweden is seen as a safe haven. The country sold 5-year bonds at a record low yield of 1.023%, down significantly from 3.132% in April.

Italy's previous euro lifetime record high was 6.29% hit at a mid-November sale.
Reuters: "Italy has trimmed the size of its auctions in reaction to market pressure but it will have to step up issuance in the coming months if it is to meet a gross funding goal of around 440 billion euros next year".

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