Italian officials announced that China Investment Corporation (CIC) was expected to buy Italian bonds in a bid to support Italy’s financial system. The news come as Italy’s cost to borrow hit a new record high that pushed yields on five-year bonds to 5.6 percent from 4.93 percent.
CIC is China’s largest sovereign wealth fund. It has over $400 billion in assets and is wholly-owned by the Chinese government.
Source: BBC News
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.