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Another Day, Another Record Interest on Italian Debt

Berlusconi may be gone but the legacy lives on with yet another record yield on new issues of Italian debt. On Monday, Italy sold 3 billion euros ($4.2 billion) worth of 5-year bonds with a yield of 6.29 percent shattering the previous Eurozone-era record.

At the same time, it was announced that Eurozone Industrial Production fell by 2 percent adding further to fears that the region could be slipping back into recession.

“Eurozone manufacturers are clearly now finding life extremely challenging as domestic demand is hit by tighter fiscal policy across the region,” said Howard Archer from IHS Global Insight. “Slower global growth has hit foreign demand for eurozone goods hard.”

Source: BBC News [1]

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Scott Boyd

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