Friday, October 28, 2011
Mr. Sensitive Wins The Pool
The Rome-based Treasury sold 3.08 billion euros ($4.36 billion) of 2014 bonds to yield 4.93 percent, the highest since November 2000, and up from 4.68 percent on Sept. 29.But it makes sense if you think about what just happened - pushing all the losses on private holders has to nullify the effect on private investors of ECB bond purchases. Also see this article on Eurobank finances.
Italy sold a total of 7.93 billion euros of bonds, less than the maximum 8.5 billion-euro target, after
Prime Minister Silvio Berlusconi vowed in a letter to the European Commission this week to boost growth and cut debt to fight the sovereign crisis. Also auctioned were 2.98 billion euros of 2022 bonds to yield 6.06 percent, 871 million euros of 2019 bonds to yield 5.81 percent and 1 billion euros of floating-rate bonds due 2017 to yield 5.59 percent.
Links to this post: