Italy’s Cost to Borrow Hits New Record High

The yield on Italian bonds rose to another euro-era high today with interest on 3-year and 10-year bonds nearly doubling from a sale held late last month. The rate of interest for the new debts due to be repaid in six months was 6.504%, compared with 3.535%, while the rate for two-year borrowing was 7.814%, up from 4.628% last time.

The euro lost more than a cent in trading in Europe today from yesterday’s close falling to $1.3224 at 8:30 am in New York.

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