And another Failed Italian Bond Auction

 

by John Galt
June 13, 2012 05:10 ET

 

Wow. From Bloomberg TV:

 

1 year (364 day) Italian bond auction this morning-

 

on May 11th auction went off with a 2.34% yield

 

This morning with a 3.972% yield.

 

Can you smell the pizza burning in that Italian kitchen? They may have sold all €6.5 billion put out for bid, but to have yields blow out by over 1.6% is a failure in anyone’s book because it means that increasingly, investors are lumping Italy into the PIIGS stew and shying away from the risk of default in that nation also.

 

Good luck with that bailout thingamajiggy.

 

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One Response to And another Failed Italian Bond Auction

  1. B85
    13/06/2012 at 11:01

    That smell is not pizza , its human?

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