Italian 10-year bond yields soar past 7.0%
London - Arabstoday
Italian government borrowing costs soared Wednesday with the yield on benchmark 10-year Italian bonds topping 7.0 percent by mid-morning, after Prime Minister Silvio Berlusconi's planned resignation left the country in political limbo. Around 1011 GMT, the yield climbed to 7.024 percent, a level not seen since June 1997, demonstrating investor unease about Italy's ability to manage its debt despite Berlusconi saying he would step down by the end of the month.
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